CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives $31.80 Average Target Price from Brokerages

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGXGet Free Report) have been given an average rating of “Buy” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.80.

CRGX has been the topic of several recent research reports. William Blair assumed coverage on CARGO Therapeutics in a research report on Tuesday, November 26th. They set an “outperform” rating on the stock. HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of CARGO Therapeutics in a report on Friday, November 15th. Finally, Chardan Capital restated a “buy” rating and issued a $28.00 target price on shares of CARGO Therapeutics in a research note on Wednesday, November 13th.

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Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in CARGO Therapeutics by 87.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 295,960 shares of the company’s stock worth $5,460,000 after buying an additional 138,261 shares during the period. Geode Capital Management LLC lifted its stake in CARGO Therapeutics by 80.6% in the third quarter. Geode Capital Management LLC now owns 838,279 shares of the company’s stock worth $15,469,000 after acquiring an additional 374,018 shares during the period. Barclays PLC boosted its holdings in CARGO Therapeutics by 226.7% in the third quarter. Barclays PLC now owns 56,354 shares of the company’s stock valued at $1,039,000 after acquiring an additional 39,102 shares in the last quarter. MetLife Investment Management LLC increased its position in CARGO Therapeutics by 59.3% during the 3rd quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock valued at $366,000 after purchasing an additional 7,380 shares during the period. Finally, State Street Corp raised its holdings in CARGO Therapeutics by 11.7% in the 3rd quarter. State Street Corp now owns 839,861 shares of the company’s stock worth $15,495,000 after purchasing an additional 88,000 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

CARGO Therapeutics Price Performance

Shares of CARGO Therapeutics stock opened at $13.46 on Friday. The firm has a market cap of $619.56 million, a PE ratio of -3.16 and a beta of 2.50. CARGO Therapeutics has a 1 year low of $10.91 and a 1 year high of $33.92. The stock has a fifty day moving average price of $14.92 and a 200-day moving average price of $17.51.

CARGO Therapeutics (NASDAQ:CRGXGet Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.26. As a group, equities analysts anticipate that CARGO Therapeutics will post -3.73 EPS for the current fiscal year.

About CARGO Therapeutics

(Get Free Report

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.

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Analyst Recommendations for CARGO Therapeutics (NASDAQ:CRGX)

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