CARGO Therapeutics (NASDAQ:CRGX) Lowered to “Neutral” Rating by HC Wainwright

HC Wainwright lowered shares of CARGO Therapeutics (NASDAQ:CRGX) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, Marketbeat.com reports.

Other analysts also recently issued research reports about the stock. William Blair assumed coverage on shares of CARGO Therapeutics in a research report on Tuesday, November 26th. They issued an “outperform” rating for the company. Chardan Capital reaffirmed a “buy” rating and set a $28.00 price target on shares of CARGO Therapeutics in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.00.

CARGO Therapeutics Stock Down 74.3 %

Shares of CRGX stock opened at $3.39 on Thursday. CARGO Therapeutics has a fifty-two week low of $3.00 and a fifty-two week high of $33.92. The firm’s 50 day moving average price is $14.77 and its two-hundred day moving average price is $17.42.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.26. Analysts expect that CARGO Therapeutics will post -3.73 EPS for the current year.

Institutional Investors Weigh In On CARGO Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CRGX. FMR LLC lifted its position in shares of CARGO Therapeutics by 1.1% during the third quarter. FMR LLC now owns 6,954,476 shares of the company’s stock worth $128,310,000 after purchasing an additional 77,508 shares during the last quarter. RTW Investments LP raised its stake in CARGO Therapeutics by 0.5% during the third quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock valued at $75,626,000 after buying an additional 20,833 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in CARGO Therapeutics by 1.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock worth $49,335,000 after buying an additional 46,659 shares during the last quarter. Wellington Management Group LLP grew its position in shares of CARGO Therapeutics by 4.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company’s stock worth $37,688,000 after acquiring an additional 79,782 shares in the last quarter. Finally, State Street Corp increased 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 valued at $15,495,000 after acquiring an additional 88,000 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

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.