CARGO Therapeutics (NASDAQ:CRGX) Sees Unusually-High Trading Volume

CARGO Therapeutics, Inc. (NASDAQ:CRGX) saw an uptick in trading volume on Friday . 286,867 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 278,369 shares.The stock last traded at $21.05 and had previously closed at $21.58.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their price objective on shares of CARGO Therapeutics from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 22nd.

CARGO Therapeutics Price Performance

The business has a 50-day moving average of $24.23.

CARGO Therapeutics (NASDAQ:CRGX) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($1.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.62) by $0.13. On average, research analysts expect that CARGO Therapeutics, Inc. will post -5.6 earnings per share for the current year.

Hedge Funds Weigh In On CARGO Therapeutics

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in CARGO Therapeutics during the fourth quarter worth about $232,000. Goldman Sachs Group Inc. purchased a new stake in shares of CARGO Therapeutics during the 4th quarter worth approximately $287,000. Northern Trust Corp acquired a new stake in shares of CARGO Therapeutics in the 4th quarter worth approximately $877,000. Norges Bank purchased a new position in CARGO Therapeutics in the 4th quarter valued at approximately $1,130,000. Finally, Sphera Funds Management LTD. purchased a new position in CARGO Therapeutics in the 4th quarter valued at approximately $1,736,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

About CARGO Therapeutics

CARGO Therapeutics, Inc, a clinical-stage biotechnology company, develops chimeric antigen receptor (CAR) T-cell therapies for cancer patients in the Unites States. The company's lead program is CRG-022, an autologous CD22 CAR T-cell product candidate, which is in phase 2 trails, designed to address resistance mechanisms by targeting CD22, an alternate tumor antigen that is expressed in B-cell malignancies.