CARGO Therapeutics, Inc. (NASDAQ:CRGX) Given Average Rating of "Reduce" by Brokerages

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) have been given an average rating of "Reduce" by the seven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $15.00.

Separately, Jefferies Financial Group boosted their price objective on CARGO Therapeutics from $3.70 to $5.00 and gave the stock a "hold" rating in a research report on Tuesday.

Institutional Trading of CARGO Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRGX. Tower Research Capital LLC TRC boosted its position in shares of CARGO Therapeutics by 565.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,800 shares of the company's stock valued at $84,000 after purchasing an additional 4,929 shares during the period. Ascent Group LLC acquired a new stake in shares of CARGO Therapeutics in the first quarter valued at approximately $43,000. Brooklyn Investment Group grew its position in shares of CARGO Therapeutics by 512.3% during the first quarter. Brooklyn Investment Group now owns 11,328 shares of the company's stock worth $46,000 after acquiring an additional 9,478 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of CARGO Therapeutics in the 1st quarter valued at $46,000. Finally, Invesco Ltd. acquired a new position in shares of CARGO Therapeutics in the 4th quarter valued at $165,000. Institutional investors and hedge funds own 93.16% of the company's stock.

CARGO Therapeutics Price Performance

Shares of NASDAQ CRGX traded up $0.20 during midday trading on Tuesday, hitting $4.59. The company's stock had a trading volume of 22,197,951 shares, compared to its average volume of 671,296. The firm has a market capitalization of $211.64 million, a price-to-earnings ratio of -0.99 and a beta of 0.28. The business's fifty day simple moving average is $4.27 and its two-hundred day simple moving average is $5.99. CARGO Therapeutics has a 1 year low of $3.00 and a 1 year high of $25.45.

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.

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