CARGO Therapeutics, Inc. (NASDAQ:CRGX) Given Consensus Recommendation of "Buy" by Analysts

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) have been given an average recommendation of "Buy" by the six research firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.80.

Several analysts recently weighed in on CRGX shares. William Blair assumed coverage on shares of CARGO Therapeutics in a research report on Tuesday, November 26th. They issued an "outperform" rating on the stock. Chardan Capital reaffirmed a "buy" rating and set a $28.00 price target on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a report on Friday, November 15th.

CARGO Therapeutics Price Performance

CRGX traded down $0.38 during trading hours on Friday, hitting $13.46. 146,505 shares of the stock were exchanged, compared to its average volume of 241,914. The stock has a market cap of $619.56 million, a price-to-earnings ratio of -3.16 and a beta of 2.50. The stock has a 50-day simple moving average of $14.92 and a 200-day simple moving average of $17.49. CARGO Therapeutics has a 12 month low of $10.91 and a 12 month high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.26. Sell-side analysts expect that CARGO Therapeutics will post -3.73 EPS for the current year.

Institutional Trading of CARGO Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of CARGO Therapeutics by 80.6% during the third quarter. Geode Capital Management LLC now owns 838,279 shares of the company's stock valued at $15,469,000 after acquiring an additional 374,018 shares during the period. Novo Holdings A S increased its position in shares of CARGO Therapeutics by 23.5% during the 2nd quarter. Novo Holdings A S now owns 1,544,000 shares of the company's stock valued at $25,352,000 after purchasing an additional 294,000 shares during the period. Perceptive Advisors LLC raised its stake in shares of CARGO Therapeutics by 6.8% in the 2nd quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company's stock worth $60,475,000 after buying an additional 235,000 shares in the last quarter. Sio Capital Management LLC acquired a new stake in shares of CARGO Therapeutics in the third quarter valued at $3,208,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in CARGO Therapeutics by 87.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 295,960 shares of the company's stock valued at $5,460,000 after buying an additional 138,261 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

CARGO Therapeutics Company Profile

CARGO Therapeutics, Inc, a clinical-stage biotechnology company, develops chimeric antigen receptor (CAR) T-cell therapies for cancer patients. The company's lead program is CRG-022, an autologous CD22 CAR T-cell product candidate designed to address resistance mechanisms by targeting CD22, an alternate tumor antigen that is expressed in B-cell malignancies.