CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives $15.00 Consensus PT from Analysts

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) has been assigned an average recommendation of "Reduce" from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $15.00.

CRGX has been the subject of several recent analyst reports. Truist Financial lowered CARGO Therapeutics from a "buy" rating to a "hold" rating and cut their price target for the company from $32.00 to $7.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered CARGO Therapeutics from an "overweight" rating to an "underweight" rating in a research note on Thursday, January 30th. William Blair lowered CARGO Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 30th. Piper Sandler lowered CARGO Therapeutics from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $34.00 to $4.00 in a research note on Thursday, January 30th. Finally, HC Wainwright lowered CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research note on Thursday, January 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRGX. Brooklyn Investment Group acquired a new position in shares of CARGO Therapeutics during the 4th quarter worth approximately $27,000. Tower Research Capital LLC TRC lifted its holdings in CARGO Therapeutics by 565.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company's stock valued at $84,000 after acquiring an additional 4,929 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in CARGO Therapeutics in the fourth quarter valued at approximately $141,000. Invesco Ltd. acquired a new position in CARGO Therapeutics in the fourth quarter valued at approximately $165,000. Finally, ProShare Advisors LLC acquired a new position in CARGO Therapeutics in the fourth quarter valued at approximately $171,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

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CARGO Therapeutics Stock Performance

Shares of CARGO Therapeutics stock traded down $0.31 on Friday, hitting $3.80. The company's stock had a trading volume of 1,441,252 shares, compared to its average volume of 1,108,478. CARGO Therapeutics has a 1 year low of $3.00 and a 1 year high of $28.13. The firm has a fifty day moving average price of $6.94 and a 200-day moving average price of $14.45. The company has a market capitalization of $175.00 million, a price-to-earnings ratio of -0.89 and a beta of 1.65.

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.