CARGO Therapeutics (NASDAQ:CRGX) Hits New 52-Week Low - Time to Sell?

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $12.17 and last traded at $12.30, with a volume of 13028 shares traded. The stock had previously closed at $13.50.

Analysts Set New Price Targets

CRGX has been the topic of several research reports. William Blair assumed coverage on shares of CARGO Therapeutics in a research note on Tuesday, November 26th. They issued an "outperform" rating on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price target on shares of CARGO Therapeutics in a research note on Friday, November 15th. Finally, Chardan Capital reiterated a "buy" rating and set a $28.00 price objective on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $31.80.

CARGO Therapeutics Trading Down 10.9 %

The firm has a market cap of $553.72 million, a P/E ratio of -2.82 and a beta of 2.50. The business's fifty day moving average price is $16.28 and its two-hundred day moving average price is $17.72.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, topping analysts' consensus estimates of ($1.14) by $0.26. Research analysts predict that CARGO Therapeutics, Inc. will post -3.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Yu Fan bought a new position in CARGO Therapeutics during the second quarter worth $14,975,000. Geode Capital Management LLC increased its holdings in shares of CARGO Therapeutics by 80.6% during the 3rd quarter. Geode Capital Management LLC now owns 838,279 shares of the company's stock worth $15,469,000 after purchasing an additional 374,018 shares during the period. Novo Holdings A S increased its holdings 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 worth $25,352,000 after purchasing an additional 294,000 shares during the period. Perceptive Advisors LLC lifted its stake in shares of CARGO Therapeutics by 6.8% in the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company's stock valued at $60,475,000 after buying an additional 235,000 shares during the period. Finally, Sio Capital Management LLC bought a new stake in shares of CARGO Therapeutics in the third quarter valued at about $3,208,000. Institutional investors own 93.16% of the company's stock.

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.