CARGO Therapeutics (NASDAQ:CRGX) Cut to Neutral at Chardan Capital

Chardan Capital downgraded shares of CARGO Therapeutics (NASDAQ:CRGX - Free Report) from a buy rating to a neutral rating in a research note published on Thursday, MarketBeat.com reports.

Several other equities research analysts have also recently weighed in on CRGX. HC Wainwright cut shares of CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research report on Thursday. William Blair cut shares of CARGO Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Thursday. Truist Financial cut shares of CARGO Therapeutics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $32.00 to $7.00 in a research report on Thursday. JPMorgan Chase & Co. cut shares of CARGO Therapeutics from an "overweight" rating to an "underweight" rating in a research report on Thursday. Finally, Jefferies Financial Group cut shares of CARGO Therapeutics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $32.00 to $3.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $15.00.

CARGO Therapeutics Stock Up 1.4 %

Shares of CARGO Therapeutics stock traded up $0.05 during trading on Thursday, reaching $3.65. The company's stock had a trading volume of 1,740,563 shares, compared to its average volume of 1,770,539. CARGO Therapeutics has a 52-week low of $3.00 and a 52-week high of $33.92. The company has a market cap of $168.01 million, a price-to-earnings ratio of -0.86 and a beta of 2.12. The firm's 50-day moving average is $14.27 and its two-hundred day moving average is $17.22.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.14) by $0.26. On average, equities research analysts anticipate that CARGO Therapeutics will post -3.74 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new position in shares of CARGO Therapeutics in the 4th quarter worth about $27,000. China Universal Asset Management Co. Ltd. bought a new stake in CARGO Therapeutics during the 4th quarter valued at about $141,000. BNP Paribas Financial Markets increased its stake 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 in the last quarter. SG Americas Securities LLC bought a new stake in CARGO Therapeutics during the 3rd quarter valued at about $234,000. Finally, JPMorgan Chase & Co. increased its stake in CARGO Therapeutics by 74.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company's stock valued at $277,000 after purchasing an additional 6,426 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

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.