CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) shares traded down 3.2% on Wednesday . The stock traded as low as $19.13 and last traded at $19.37. 25,864 shares were traded during mid-day trading, a decline of 91% from the average session volume of 277,271 shares. The stock had previously closed at $20.00.
Analysts Set New Price Targets
Separately, Jefferies Financial Group raised their price objective on CARGO Therapeutics from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, March 22nd.
View Our Latest Stock Analysis on CRGX
CARGO Therapeutics Stock Performance
The stock's fifty day moving average is $24.13.
CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($1.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.62) by $0.13. As a group, analysts forecast that CARGO Therapeutics, Inc. will post -5.6 EPS for the current fiscal year.
Institutional Trading of CARGO Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of CRGX. Citadel Advisors LLC acquired a new position in CARGO Therapeutics during the 4th quarter worth approximately $4,558,000. Charles Schwab Investment Management Inc. acquired a new position in shares of CARGO Therapeutics during the fourth quarter worth $2,556,000. The Manufacturers Life Insurance Company purchased a new position in shares of CARGO Therapeutics in the fourth quarter valued at $1,810,000. Sphera Funds Management LTD. purchased a new position in shares of CARGO Therapeutics in the fourth quarter valued at $1,736,000. Finally, Norges Bank purchased a new stake in CARGO Therapeutics during the 4th quarter worth $1,130,000. Institutional investors and hedge funds own 93.16% of the company's stock.
About CARGO Therapeutics
(
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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.
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