CARGO Therapeutics (NASDAQ:CRGX) Trading 3.1% Higher

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report)'s stock price rose 3.1% during mid-day trading on Tuesday . The stock traded as high as $20.50 and last traded at $20.50. Approximately 27,072 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 278,978 shares. The stock had previously closed at $19.89.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price objective on CARGO Therapeutics from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, March 22nd.

CARGO Therapeutics Price Performance

The firm has a fifty day moving average of $24.18.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($1.49) earnings per share for the quarter, topping the consensus estimate of ($1.62) by $0.13. As a group, analysts expect that CARGO Therapeutics, Inc. will post -5.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC purchased a new position in CARGO Therapeutics during the 4th quarter worth $4,558,000. Charles Schwab Investment Management Inc. purchased a new position in CARGO Therapeutics during the 4th quarter worth $2,556,000. The Manufacturers Life Insurance Company purchased a new position in CARGO Therapeutics during the 4th quarter worth $1,810,000. Sphera Funds Management LTD. purchased a new position in CARGO Therapeutics during the 4th quarter worth $1,736,000. Finally, Norges Bank purchased a new position in CARGO Therapeutics during the 4th quarter worth $1,130,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

About CARGO Therapeutics

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.