CARGO Therapeutics (NASDAQ:CRGX) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of CARGO Therapeutics (NASDAQ:CRGXFree Report) to a sell rating in a research report sent to investors on Friday.

Separately, Jefferies Financial Group increased their target price on shares of CARGO Therapeutics from $3.70 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $15.40.

View Our Latest Stock Report on CARGO Therapeutics

CARGO Therapeutics Stock Performance

CARGO Therapeutics stock opened at $4.47 on Friday. The firm has a 50 day moving average of $4.44 and a 200 day moving average of $4.24. The firm has a market capitalization of $216.17 million, a price-to-earnings ratio of -0.96 and a beta of 0.30. CARGO Therapeutics has a 12-month low of $3.00 and a 12-month high of $25.45.

Institutional Investors Weigh In On CARGO Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in CARGO Therapeutics by 565.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company’s stock valued at $84,000 after buying an additional 4,929 shares in the last quarter. Ascent Group LLC purchased a new stake in CARGO Therapeutics during the 1st quarter valued at approximately $43,000. Jane Street Group LLC bought a new position in shares of CARGO Therapeutics during the 2nd quarter valued at approximately $45,000. Los Angeles Capital Management LLC bought a new position in shares of CARGO Therapeutics during the 2nd quarter valued at approximately $46,000. Finally, Engineers Gate Manager LP bought a new position in shares of CARGO Therapeutics during the 2nd quarter valued at approximately $46,000. 93.16% of the stock is owned by hedge funds and other institutional investors.

CARGO Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CARGO Therapeutics (NASDAQ:CRGX)

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