Brokerages Set CARGO Therapeutics, Inc. (NASDAQ:CRGX) Price Target at $31.80

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) have been assigned an average recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $31.80.

A number of brokerages have commented on CRGX. William Blair began coverage on shares of CARGO Therapeutics in a report on Tuesday, November 26th. They set an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of CARGO Therapeutics in a report on Friday, November 15th. Finally, Chardan Capital reissued a “buy” rating and issued a $28.00 price objective on shares of CARGO Therapeutics in a research note on Wednesday, November 13th.

Institutional Trading of CARGO Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of CARGO Therapeutics by 1.1% during the third quarter. FMR LLC now owns 6,954,476 shares of the company’s stock worth $128,310,000 after acquiring an additional 77,508 shares during the last quarter. RTW Investments LP boosted its position in shares of CARGO Therapeutics by 0.5% during the third quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock worth $75,626,000 after acquiring an additional 20,833 shares during the last quarter. Perceptive Advisors LLC boosted its position in shares of CARGO Therapeutics by 6.8% during the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock worth $60,475,000 after acquiring an additional 235,000 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of CARGO Therapeutics by 1.8% during the third quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock worth $49,335,000 after acquiring an additional 46,659 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of CARGO Therapeutics by 4.1% during the third quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company’s stock worth $37,688,000 after acquiring an additional 79,782 shares during the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

CARGO Therapeutics Trading Down 0.1 %

Shares of CRGX stock opened at $13.65 on Friday. CARGO Therapeutics has a 12 month low of $10.91 and a 12 month high of $33.92. The stock has a market cap of $628.31 million, a P/E ratio of -3.20 and a beta of 2.50. The company has a 50 day simple moving average of $14.83 and a two-hundred day simple moving average of $17.45.

CARGO Therapeutics (NASDAQ:CRGX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.26. As a group, equities analysts forecast that CARGO Therapeutics will post -3.73 earnings per share for the current year.

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.