CARGO Therapeutics (NASDAQ:CRGX) Sees Large Volume Increase

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 286,867 shares changed hands during trading, an increase of 3% from the previous session's volume of 278,369 shares.The stock last traded at $21.05 and had previously closed at $21.58.

Analysts Set New Price Targets

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

CARGO Therapeutics Price Performance

The company has a 50 day simple moving average of $24.28.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new position in shares of CARGO Therapeutics during the 4th quarter worth $4,558,000. Charles Schwab Investment Management Inc. purchased a new position in shares of CARGO Therapeutics during the 4th quarter worth $2,556,000. The Manufacturers Life Insurance Company purchased a new position in shares of CARGO Therapeutics during the 4th quarter worth $1,810,000. Sphera Funds Management LTD. purchased a new position in shares of CARGO Therapeutics in the 4th quarter worth $1,736,000. Finally, Norges Bank purchased a new position in shares of CARGO Therapeutics in the 4th quarter worth $1,130,000. Hedge funds and other institutional investors own 93.16% of the company's stock.

CARGO Therapeutics Company Profile

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.