CARGO Therapeutics, Inc. (NASDAQ:CRGX) Given Consensus Rating of “Buy” by Analysts

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) have received a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.80.

Several equities research analysts recently commented on the stock. Chardan Capital reissued a “buy” rating and set a $28.00 price objective on shares of CARGO Therapeutics in a research note on Wednesday, November 13th. William Blair assumed coverage on shares of CARGO Therapeutics in a research note on Tuesday, November 26th. They set an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of CARGO Therapeutics in a research note on Friday, November 15th.

CARGO Therapeutics Price Performance

Shares of NASDAQ CRGX opened at $13.65 on Friday. CARGO Therapeutics has a 1 year low of $10.91 and a 1 year high of $33.92. The company’s 50-day moving average is $14.83 and its 200 day moving average is $17.45. The stock has a market capitalization of $628.31 million, a P/E ratio of -3.20 and a beta of 2.50.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRGX. Rhumbline Advisers lifted its position in CARGO Therapeutics by 14.0% during the second quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after purchasing an additional 3,765 shares during the period. The Manufacturers Life Insurance Company lifted its position in CARGO Therapeutics by 20.3% during the second quarter. The Manufacturers Life Insurance Company now owns 159,019 shares of the company’s stock valued at $2,611,000 after purchasing an additional 26,808 shares during the period. CVI Holdings LLC bought a new position in CARGO Therapeutics during the second quarter valued at approximately $1,149,000. Perceptive Advisors LLC lifted its position in CARGO Therapeutics by 6.8% during the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock valued at $60,475,000 after purchasing an additional 235,000 shares during the period. Finally, Novo Holdings A S lifted its position in CARGO Therapeutics by 23.5% during the second quarter. Novo Holdings A S now owns 1,544,000 shares of the company’s stock valued at $25,352,000 after purchasing an additional 294,000 shares during the period. Institutional investors own 93.16% of the company’s stock.

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.