CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives Average Recommendation of “Buy” from Brokerages

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

A number of analysts have recently weighed in on the company. Chardan Capital reiterated a “buy” rating and set a $28.00 price target on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. William Blair started coverage on CARGO Therapeutics in a report on Tuesday, November 26th. They set an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a report on Friday, November 15th.

Institutional Trading of CARGO Therapeutics

Institutional investors have recently made changes to their positions in the stock. Yu Fan bought a new stake in CARGO Therapeutics during the second quarter worth approximately $14,975,000. Geode Capital Management LLC raised its stake 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 buying an additional 374,018 shares in the last quarter. Cowen AND Company LLC lifted its holdings in shares of CARGO Therapeutics by 121.7% in the second quarter. Cowen AND Company LLC now owns 554,305 shares of the company’s stock valued at $9,102,000 after buying an additional 304,305 shares during the period. Novo Holdings A S boosted its stake in CARGO Therapeutics by 23.5% during the second quarter. Novo Holdings A S now owns 1,544,000 shares of the company’s stock valued at $25,352,000 after buying an additional 294,000 shares in the last quarter. Finally, Perceptive Advisors LLC grew its holdings in CARGO Therapeutics by 6.8% during the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock worth $60,475,000 after acquiring an additional 235,000 shares during the period. 93.16% of the stock is owned by institutional investors and hedge funds.

CARGO Therapeutics Trading Up 0.5 %

CARGO Therapeutics stock opened at $15.12 on Monday. The stock has a market cap of $695.94 million and a P/E ratio of -3.55. CARGO Therapeutics has a 52 week low of $12.17 and a 52 week high of $33.92. The stock has a 50 day moving average of $17.16 and a 200-day moving average of $17.75.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings data 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 predict that CARGO Therapeutics will post -3.73 earnings per share for the current fiscal year.

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.