Brokerages Set CARGO Therapeutics, Inc. (NASDAQ:CRGX) PT at $15.40

Key Points

• CARGO Therapeutics, Inc. has received a consensus rating of "Reduce" from seven covering brokerages, with one sell rating and six hold ratings.
• Jefferies Financial Group recently raised its price target for CARGO Therapeutics from $3.70 to $5.00, maintaining a "hold" rating.
• The stock's current market cap stands at $207.03 million, with institutional investors owning a significant 93.16% of the company's shares.

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) has earned a consensus recommendation of "Reduce" from the seven research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $15.40.

Separately, Jefferies Financial Group increased their price objective on shares of CARGO Therapeutics from $3.70 to $5.00 and gave the stock a "hold" rating in a research report on Tuesday, July 8th.

Hedge Funds Weigh In On CARGO Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CRGX. Ascent Group LLC acquired a new position in CARGO Therapeutics during the 1st quarter worth about $43,000. XTX Topco Ltd acquired a new position in CARGO Therapeutics during the 1st quarter valued at about $46,000. Brooklyn Investment Group lifted its position in CARGO Therapeutics by 512.3% during the 1st quarter. Brooklyn Investment Group now owns 11,328 shares of the company's stock valued at $46,000 after purchasing an additional 9,478 shares during the period. Tower Research Capital LLC TRC lifted its position in CARGO Therapeutics by 565.9% during 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. Finally, Public Employees Retirement System of Ohio acquired a new position in CARGO Therapeutics during the 2nd quarter valued at about $87,000. Institutional investors own 93.16% of the company's stock.

CARGO Therapeutics Trading Up 0.1%

Shares of CRGX stock traded up $0.01 during trading hours on Friday, hitting $4.47. The company's stock had a trading volume of 355,317 shares, compared to its average volume of 1,187,708. The stock has a market cap of $205.88 million, a price-to-earnings ratio of -0.97 and a beta of 0.30. The business has a fifty day moving average of $4.43 and a 200-day moving average of $4.69. CARGO Therapeutics has a twelve month low of $3.00 and a twelve month 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.