Analysts Set CARGO Therapeutics, Inc. (NASDAQ:CRGX) Target Price at $31.80

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $31.80.

CRGX has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of CARGO Therapeutics in a research report on Friday, November 15th. Chardan Capital restated a “buy” rating and issued a $28.00 price target on shares of CARGO Therapeutics in a research note on Wednesday, November 13th. Finally, William Blair began coverage on shares of CARGO Therapeutics in a report on Tuesday, November 26th. They set an “outperform” rating for the company.

Institutional Trading of CARGO Therapeutics

Several institutional investors have recently modified their holdings of CRGX. JPMorgan Chase & Co. boosted its holdings in CARGO Therapeutics by 74.9% in the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock valued at $277,000 after acquiring an additional 6,426 shares during the last quarter. Barclays PLC increased its position in CARGO Therapeutics by 226.7% in 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 in the last quarter. Geode Capital Management LLC raised its position in shares of CARGO Therapeutics by 80.6% during the third 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. Wellington Management Group LLP raised its holdings in CARGO Therapeutics by 4.1% during the third quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company’s stock worth $37,688,000 after buying an additional 79,782 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its position in CARGO Therapeutics by 22.5% in the 3rd quarter. Sphera Funds Management LTD. now owns 190,506 shares of the company’s stock valued at $3,515,000 after acquiring an additional 35,000 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Trading Up 4.8 %

CRGX stock opened at $14.42 on Monday. The firm has a market capitalization of $663.72 million and a PE ratio of -3.38. The business’s 50 day simple moving average is $17.39 and its 200 day simple moving average is $17.77. CARGO Therapeutics has a 1-year low of $12.17 and a 1-year high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last announced its 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. As a group, sell-side analysts predict that CARGO Therapeutics will post -3.73 EPS for the current fiscal year.

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.