CARGO Therapeutics (NASDAQ:CRGX) Shares Down 3.2%

CARGO Therapeutics, Inc. (NASDAQ:CRGX)’s stock price fell 3.2% on Wednesday . The company traded as low as $19.13 and last traded at $19.37. 25,864 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 277,271 shares. The stock had previously closed at $20.00.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price target on shares of CARGO Therapeutics from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 22nd.

CARGO Therapeutics Stock Performance

The business’s fifty day moving average price is $23.97.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings data on Thursday, March 21st. The company reported ($1.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.13. Analysts predict that CARGO Therapeutics, Inc. will post -5.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRGX. RTW Investments LP bought a new position in shares of CARGO Therapeutics during the fourth quarter valued at about $119,821,000. Perceptive Advisors LLC bought a new stake in CARGO Therapeutics during the 4th quarter valued at $79,557,000. Nextech Invest Ltd. bought a new stake in CARGO Therapeutics in the 4th quarter worth $61,174,000. Price T Rowe Associates Inc. MD purchased a new position in shares of CARGO Therapeutics in the fourth quarter valued at about $51,823,000. Finally, Wellington Management Group LLP bought a new position in shares of CARGO Therapeutics during the fourth quarter valued at about $39,009,000. 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 in the Unites States. The company's lead program is CRG-022, an autologous CD22 CAR T-cell product candidate, which is in phase 2 trails, designed to address resistance mechanisms by targeting CD22, an alternate tumor antigen that is expressed in B-cell malignancies.