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

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

Separately, Jefferies Financial Group lifted their price target 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. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $15.40.

CARGO Therapeutics Stock Performance

Shares of CRGX opened at $4.47 on Friday. CARGO Therapeutics has a twelve month low of $3.00 and a twelve month high of $25.45. The firm’s 50 day moving average price is $4.44 and its two-hundred day moving average price is $4.23. The firm has a market cap of $216.17 million, a P/E ratio of -0.96 and a beta of 0.30.

Institutional Trading of CARGO Therapeutics

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in shares of CARGO Therapeutics by 565.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company’s stock worth $84,000 after purchasing an additional 4,929 shares in the last quarter. Ascent Group LLC acquired a new position in CARGO Therapeutics during the first quarter worth $43,000. Jane Street Group LLC acquired a new position in CARGO Therapeutics during the second quarter worth $45,000. Los Angeles Capital Management LLC acquired a new position in CARGO Therapeutics during the second quarter worth $46,000. Finally, Engineers Gate Manager LP acquired a new position in CARGO Therapeutics during the second quarter worth $46,000. 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.