William Blair Issues Pessimistic Outlook for CRGX Earnings

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) - Research analysts at William Blair cut their Q1 2025 earnings per share (EPS) estimates for shares of CARGO Therapeutics in a research note issued on Thursday, March 13th. William Blair analyst S. Corwin now forecasts that the company will earn ($0.76) per share for the quarter, down from their prior forecast of ($0.66). William Blair currently has a "Market Perform" rating on the stock. The consensus estimate for CARGO Therapeutics' current full-year earnings is ($3.69) per share. William Blair also issued estimates for CARGO Therapeutics' Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($2.03) EPS.

Other research analysts have also recently issued research reports about the company. Piper Sandler cut CARGO Therapeutics from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $34.00 to $4.00 in a research report on Thursday, January 30th. Chardan Capital cut CARGO Therapeutics from a "buy" rating to a "neutral" rating in a research report on Thursday, January 30th. Jefferies Financial Group cut CARGO Therapeutics from a "buy" rating to a "hold" rating and dropped their price target for the company from $32.00 to $3.00 in a research report 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. Finally, Truist Financial lowered CARGO Therapeutics from a "buy" rating to a "hold" rating and decreased their price objective for the company from $32.00 to $7.00 in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, CARGO Therapeutics currently has an average rating of "Hold" and an average price target of $15.00.

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CARGO Therapeutics Price Performance

Shares of NASDAQ CRGX traded down $0.01 during trading on Monday, reaching $4.14. 1,145,157 shares of the stock traded hands, compared to its average volume of 440,293. CARGO Therapeutics has a 52-week low of $3.00 and a 52-week high of $28.13. The company has a 50-day moving average of $6.51 and a 200-day moving average of $14.28. The stock has a market capitalization of $190.66 million, a P/E ratio of -0.97 and a beta of 1.65.

Hedge Funds Weigh In On CARGO Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in CARGO Therapeutics by 87.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 295,960 shares of the company's stock worth $5,460,000 after acquiring an additional 138,261 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CARGO Therapeutics by 80.6% in 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 in the last quarter. Barclays PLC boosted its holdings in shares of CARGO Therapeutics by 226.7% in the 3rd quarter. Barclays PLC now owns 56,354 shares of the company's stock worth $1,039,000 after purchasing an additional 39,102 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of CARGO Therapeutics by 59.3% in the 3rd quarter. MetLife Investment Management LLC now owns 19,833 shares of the company's stock worth $366,000 after purchasing an additional 7,380 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of CARGO Therapeutics by 11.7% in the 3rd quarter. State Street Corp now owns 839,861 shares of the company's stock worth $15,495,000 after purchasing an additional 88,000 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

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.