HC Wainwright downgraded shares of CARGO Therapeutics (NASDAQ:CRGX - Free Report) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports.
Other analysts have also issued reports about the company. Chardan Capital reaffirmed a "buy" rating and set a $28.00 target price on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. William Blair initiated coverage on CARGO Therapeutics in a report on Tuesday, November 26th. They set an "outperform" rating on the stock. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, CARGO Therapeutics presently has an average rating of "Hold" and an average target price of $15.00.
Read Our Latest Research Report on CARGO Therapeutics
CARGO Therapeutics Stock Performance
Shares of CRGX stock traded up $0.05 during trading hours on Thursday, reaching $3.65. The company had a trading volume of 1,740,563 shares, compared to its average volume of 1,770,539. The company has a market capitalization of $168.01 million, a P/E ratio of -0.86 and a beta of 2.12. CARGO Therapeutics has a twelve month low of $3.00 and a twelve month high of $33.92. The stock's fifty day simple moving average is $14.27 and its 200 day simple moving average is $17.22.
CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, topping analysts' consensus estimates of ($1.14) by $0.26. As a group, equities analysts expect that CARGO Therapeutics will post -3.74 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. abrdn plc bought a new position in CARGO Therapeutics during the fourth quarter worth $593,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of CARGO Therapeutics during the fourth quarter worth $141,000. Brooklyn Investment Group bought a new position in shares of CARGO Therapeutics in the 4th quarter worth about $27,000. JPMorgan Chase & Co. boosted its holdings in shares of CARGO Therapeutics by 74.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company's stock valued at $277,000 after buying an additional 6,426 shares during the period. Finally, Barclays PLC grew its position in shares of CARGO Therapeutics by 226.7% during the 3rd quarter. Barclays PLC now owns 56,354 shares of the company's stock valued at $1,039,000 after buying an additional 39,102 shares during the last quarter. Institutional investors own 93.16% of the company's stock.
About CARGO Therapeutics
(
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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.
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