CARGO Therapeutics (NASDAQ:CRGX) Lowered to Neutral Rating by HC Wainwright

CARGO Therapeutics (NASDAQ:CRGX) was downgraded by stock analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

CRGX has been the subject of a number of other research reports. Chardan Capital restated a “buy” rating and issued a $28.00 target price on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. William Blair initiated coverage on shares of CARGO Therapeutics in a research note on Tuesday, November 26th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

CARGO Therapeutics Price Performance

Shares of CRGX opened at $3.60 on Thursday. CARGO Therapeutics has a 1-year low of $3.00 and a 1-year high of $33.92. The company has a market capitalization of $165.70 million, a P/E ratio of -0.85 and a beta of 2.50. The firm’s 50 day simple moving average is $14.53 and its 200 day simple moving average is $17.33.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.26. On average, equities analysts anticipate that CARGO Therapeutics will post -3.73 earnings per share for the current year.

Institutional Investors Weigh In On CARGO Therapeutics

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of CARGO Therapeutics during the fourth quarter valued at about $27,000. China Universal Asset Management Co. Ltd. purchased a new position in CARGO Therapeutics during the 4th quarter valued at about $141,000. BNP Paribas Financial Markets raised its position in CARGO Therapeutics by 437.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock valued at $211,000 after purchasing an additional 9,311 shares during the last quarter. SG Americas Securities LLC purchased a new stake in CARGO Therapeutics in the 3rd quarter worth approximately $234,000. Finally, JPMorgan Chase & Co. grew its position in shares of CARGO Therapeutics by 74.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock worth $277,000 after buying an additional 6,426 shares during the last quarter. 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. 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.