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

CARGO Therapeutics, Inc. (NASDAQ:CRGX) has received a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $31.80.

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

Hedge Funds Weigh In On CARGO Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CRGX. Brooklyn Investment Group bought a new position in CARGO Therapeutics in the fourth quarter valued at about $27,000. Rhumbline Advisers lifted its stake in shares of CARGO Therapeutics by 14.0% in the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock worth $503,000 after purchasing an additional 3,765 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of CARGO Therapeutics by 74.9% in the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock worth $277,000 after buying an additional 6,426 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of CARGO Therapeutics by 59.3% in the third quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock worth $366,000 after buying an additional 7,380 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in CARGO Therapeutics by 437.8% during the third quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock valued at $211,000 after buying an additional 9,311 shares during the period. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Stock Down 2.7 %

Shares of CRGX stock opened at $13.46 on Friday. The business’s fifty day moving average is $14.92 and its 200 day moving average is $17.51. The stock has a market cap of $619.56 million, a price-to-earnings ratio of -3.16 and a beta of 2.50. CARGO Therapeutics has a twelve month low of $10.91 and a twelve month high of $33.92.

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

About CARGO Therapeutics

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.