Weekly Analysts’ Ratings Updates for CARGO Therapeutics (CRGX)

Several brokerages have updated their recommendations and price targets on shares of CARGO Therapeutics (NASDAQ: CRGX) in the last few weeks:

• 1/30/2025 – CARGO Therapeutics was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to an “underweight” rating.
• 1/30/2025 – CARGO Therapeutics was downgraded by analysts at Chardan Capital from a “buy” rating to a “neutral” rating.
• 1/30/2025 – CARGO Therapeutics was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $4.00 price target on the stock, down previously from $34.00.
• 1/30/2025 – CARGO Therapeutics was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating.
• 1/30/2025 – CARGO Therapeutics was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating.
• 1/30/2025 – CARGO Therapeutics was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $3.00 price target on the stock, down previously from $32.00.
• 1/30/2025 – CARGO Therapeutics was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $7.00 price target on the stock, down previously from $32.00.

CARGO Therapeutics Price Performance

Shares of CARGO Therapeutics stock opened at $3.70 on Wednesday. CARGO Therapeutics, Inc. has a 52-week low of $3.00 and a 52-week high of $33.92. The company has a 50 day moving average of $11.22 and a 200 day moving average of $16.18. The company has a market capitalization of $170.31 million, a P/E ratio of -0.87 and a beta of 2.07.

Institutional Trading of CARGO Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new stake in CARGO Therapeutics during the fourth quarter worth approximately $27,000. MetLife Investment Management LLC increased its holdings in shares of CARGO Therapeutics by 16.2% in the 4th quarter. MetLife Investment Management LLC now owns 23,039 shares of the company’s stock valued at $332,000 after acquiring an additional 3,206 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CARGO Therapeutics by 31.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,832 shares of the company’s stock valued at $214,000 after acquiring an additional 3,570 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of CARGO Therapeutics by 27.0% in the 4th quarter. JPMorgan Chase & Co. now owns 19,066 shares of the company’s stock valued at $275,000 after acquiring an additional 4,059 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of CARGO Therapeutics by 29.5% in the 4th quarter. Wells Fargo & Company MN now owns 19,740 shares of the company’s stock valued at $285,000 after acquiring an additional 4,497 shares during the period. Institutional investors and hedge funds own 93.16% of the company’s stock.

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.