CARGO Therapeutics, Inc. (NASDAQ:CRGX – Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $3.00 and last traded at $3.39, with a volume of 21312441 shares changing hands. The stock had previously closed at $13.19.
Analysts Set New Price Targets
Several research analysts have weighed in on CRGX shares. JPMorgan Chase & Co. cut CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a research report on Thursday. Chardan Capital cut CARGO Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday. Jefferies Financial Group cut shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $32.00 to $3.00 in a research report on Thursday. Truist Financial lowered shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $32.00 to $7.00 in a report on Thursday. Finally, Piper Sandler downgraded shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $4.00 in a report on Thursday. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.00.
Get Our Latest Research Report on CARGO Therapeutics
CARGO Therapeutics Price Performance
CARGO Therapeutics (NASDAQ:CRGX – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.26. As a group, sell-side analysts forecast that CARGO Therapeutics, Inc. will post -3.73 earnings per share for the current year.
Institutional Trading of CARGO Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in shares of CARGO Therapeutics during the 4th quarter valued at $27,000. China Universal Asset Management Co. Ltd. bought a new position in CARGO Therapeutics in the fourth quarter valued at about $141,000. BNP Paribas Financial Markets boosted its stake in shares of CARGO Therapeutics by 437.8% during the third quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock valued at $211,000 after purchasing an additional 9,311 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of CARGO Therapeutics during the third quarter worth about $234,000. Finally, JPMorgan Chase & Co. increased its stake in shares of CARGO Therapeutics by 74.9% in the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock valued at $277,000 after buying an additional 6,426 shares during the period. 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.
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