Wall Street Zen Upgrades CARGO Therapeutics (NASDAQ:CRGX) to Sell

CARGO Therapeutics (NASDAQ:CRGX) was upgraded by equities researchers at Wall Street Zen to a “sell” rating in a research report issued on Friday.

Separately, Jefferies Financial Group increased their price objective on CARGO Therapeutics from $3.70 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CARGO Therapeutics has a consensus rating of “Reduce” and an average price target of $15.40.

CARGO Therapeutics Price Performance

Shares of CRGX stock opened at $4.47 on Friday. The stock has a fifty day moving average of $4.44 and a 200 day moving average of $4.23. CARGO Therapeutics has a 52 week low of $3.00 and a 52 week high of $25.45. The firm has a market capitalization of $216.17 million, a price-to-earnings ratio of -0.96 and a beta of 0.30.

Hedge Funds Weigh In On CARGO Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Ascent Group LLC bought a new position in shares of CARGO Therapeutics during the first quarter valued at $43,000. Jane Street Group LLC bought a new position in shares of CARGO Therapeutics during the second quarter valued at $45,000. XTX Topco Ltd bought a new position in shares of CARGO Therapeutics during the first quarter valued at $46,000. Brooklyn Investment Group increased its holdings in shares of CARGO Therapeutics by 512.3% during the first quarter. Brooklyn Investment Group now owns 11,328 shares of the company’s stock valued at $46,000 after acquiring an additional 9,478 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of CARGO Therapeutics during the second quarter valued at $46,000. 93.16% of the stock is currently owned by institutional investors.

About CARGO Therapeutics

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.