Brokerages Set CARGO Therapeutics, Inc. (NASDAQ:CRGX) PT at $15.00

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) have earned a consensus recommendation of “Reduce” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

Several equities research analysts have commented on CRGX shares. William Blair cut shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. downgraded CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a report on Thursday, January 30th. Chardan Capital cut shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, January 30th. HC Wainwright downgraded shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, January 30th. Finally, Piper Sandler downgraded shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $34.00 to $4.00 in a research report on Thursday, January 30th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new position in CARGO Therapeutics in the 4th quarter valued at approximately $27,000. Tower Research Capital LLC TRC increased its stake in CARGO Therapeutics by 565.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company’s stock valued at $84,000 after buying an additional 4,929 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in CARGO Therapeutics in the 4th quarter valued at approximately $141,000. BNP Paribas Financial Markets increased its stake in CARGO Therapeutics by 437.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock valued at $211,000 after buying an additional 9,311 shares during the period. Finally, Invesco Ltd. acquired a new position in shares of CARGO Therapeutics during the 4th quarter worth $165,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

CARGO Therapeutics Trading Down 2.4 %

Shares of CARGO Therapeutics stock opened at $4.11 on Friday. The company’s 50-day moving average price is $6.94 and its two-hundred day moving average price is $14.45. CARGO Therapeutics has a 52 week low of $3.00 and a 52 week high of $32.79. The stock has a market cap of $189.27 million, a PE ratio of -0.96 and a beta of 1.65.

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.