CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives Consensus Recommendation of "Reduce" from Brokerages

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) have earned an average rating of "Reduce" from the seven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $15.00.

CRGX has been the topic of several analyst reports. William Blair downgraded shares of CARGO Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 30th. Chardan Capital cut CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research note on Thursday, January 30th. HC Wainwright lowered CARGO Therapeutics from a "buy" rating to a "neutral" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. cut shares of CARGO Therapeutics from an "overweight" rating to an "underweight" rating in a research note on Thursday, January 30th. Finally, Piper Sandler lowered CARGO Therapeutics from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $34.00 to $4.00 in a report on Thursday, January 30th.

Institutional Trading of CARGO Therapeutics

Several institutional investors have recently made changes to their positions in CRGX. Brooklyn Investment Group bought a new position in shares of CARGO Therapeutics during the 4th quarter worth approximately $27,000. Tower Research Capital LLC TRC raised its position in CARGO Therapeutics by 565.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company's stock worth $84,000 after purchasing an additional 4,929 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of CARGO Therapeutics during the fourth quarter worth $141,000. BNP Paribas Financial Markets lifted its position in CARGO Therapeutics by 437.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company's stock valued at $211,000 after purchasing an additional 9,311 shares during the period. Finally, Invesco Ltd. bought a new position in CARGO Therapeutics in the fourth quarter valued at approximately $165,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

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CARGO Therapeutics Price Performance

Shares of NASDAQ:CRGX traded up $0.19 on Wednesday, reaching $4.26. 1,021,578 shares of the company traded hands, compared to its average volume of 475,051. The stock has a market capitalization of $196.18 million, a PE ratio of -1.00 and a beta of 0.66. The company's 50 day moving average is $3.92 and its 200-day moving average is $12.03. CARGO Therapeutics has a fifty-two week low of $3.00 and a fifty-two week high of $25.45.

About CARGO Therapeutics

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.