CARGO Therapeutics (CRGX) to Release Earnings on Thursday

CARGO Therapeutics (NASDAQ:CRGX) is projected to post its quarterly earnings results before the market opens on Thursday, March 20th. Analysts expect CARGO Therapeutics to post earnings of ($0.95) per share for the quarter.

CARGO Therapeutics Stock Down 7.5 %

Shares of CRGX opened at $3.80 on Wednesday. CARGO Therapeutics has a 52-week low of $3.00 and a 52-week high of $28.13. The firm’s fifty day moving average is $6.72 and its two-hundred day moving average is $14.35. The stock has a market cap of $175.00 million, a PE ratio of -0.89 and a beta of 1.65.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. William Blair cut shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 30th. Jefferies Financial Group cut shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $32.00 to $3.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. cut shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a research report on Thursday, January 30th. Chardan Capital cut shares of CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, January 30th. Finally, Piper Sandler cut shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $4.00 in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

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.