CARGO Therapeutics (NASDAQ:CRGX) Stock Rating Lowered by Chardan Capital

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

Other equities analysts have also issued reports about the company. HC Wainwright lowered CARGO Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday. Piper Sandler downgraded shares of CARGO Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $34.00 to $4.00 in a research report on Thursday. JPMorgan Chase & Co. lowered shares of CARGO Therapeutics from an “overweight” rating to an “underweight” rating in a research note on Thursday. William Blair downgraded shares of CARGO Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Truist Financial lowered shares of CARGO Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $32.00 to $7.00 in a report on Thursday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

CARGO Therapeutics Stock Up 6.2 %

Shares of NASDAQ CRGX opened at $3.60 on Thursday. The company has a market capitalization of $165.70 million, a PE ratio of -0.85 and a beta of 2.50. The firm has a fifty day simple moving average of $14.53 and a 200 day simple moving average of $17.33. CARGO Therapeutics has a twelve month low of $3.00 and a twelve month high of $33.92.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings 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 valued at $128,310,000 after buying an additional 77,508 shares during the last quarter. RTW Investments LP lifted its position in CARGO Therapeutics by 0.5% in the 3rd quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock valued at $75,626,000 after acquiring an additional 20,833 shares in the last quarter. Janus Henderson Group PLC boosted its stake in CARGO Therapeutics by 1.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock valued at $49,335,000 after purchasing an additional 46,659 shares during the last quarter. Wellington Management Group LLP increased its holdings in CARGO Therapeutics by 4.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company’s stock worth $37,688,000 after purchasing an additional 79,782 shares in the last quarter. Finally, State Street Corp raised its stake in shares of CARGO Therapeutics by 11.7% in the third quarter. State Street Corp now owns 839,861 shares of the company’s stock worth $15,495,000 after purchasing an additional 88,000 shares during the last quarter. Institutional investors and hedge funds 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.