CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives $15.40 Average Target Price from Brokerages

CARGO Therapeutics, Inc. (NASDAQ:CRGX) has received an average rating of “Reduce” from the seven research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.40.

Separately, Jefferies Financial Group boosted their price objective on shares of CARGO Therapeutics from $3.70 to $5.00 and gave the company a “hold” rating in a research note on Tuesday, July 8th.

CARGO Therapeutics Stock Performance

NASDAQ CRGX opened at $4.48 on Friday. The company has a market capitalization of $206.57 million, a PE ratio of -0.97 and a beta of 0.30. The company has a 50-day simple moving average of $4.42 and a 200 day simple moving average of $4.75. CARGO Therapeutics has a 52-week low of $3.00 and a 52-week high of $25.45.

Hedge Funds Weigh In On CARGO Therapeutics

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. bought a new position in CARGO Therapeutics in the 4th quarter worth about $474,000. Millennium Management LLC bought a new position in shares of CARGO Therapeutics in the 4th quarter worth approximately $1,389,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $214,000 after purchasing an additional 3,570 shares during the period. Vanguard Group Inc. increased its holdings in CARGO Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,084,515 shares of the company’s stock worth $30,059,000 after acquiring an additional 22,286 shares in the last quarter. Finally, Barclays PLC increased its holdings in CARGO Therapeutics by 14.3% in the 4th quarter. Barclays PLC now owns 64,436 shares of the company’s stock worth $929,000 after acquiring an additional 8,082 shares in 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.