CARGO Therapeutics (NASDAQ:CRGX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen has upgraded CARGO Therapeutics (NASDAQ: CRGX) to a "sell" rating, indicating a bearish outlook on the stock's performance.
• In contrast, Jefferies Financial Group raised its price target for CRGX from $3.70 to $5.00 while maintaining a "hold" rating.
• CARGO Therapeutics has a consensus rating of "Reduce" with an average price target significantly higher at $15.40, despite current trading around $4.47.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "sell" rating in a research note issued to investors on Friday.

Separately, Jefferies Financial Group lifted their price objective on CARGO Therapeutics from $3.70 to $5.00 and gave the stock a "hold" rating in a report on Tuesday, July 8th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $15.40.

CARGO Therapeutics Stock Performance

Shares of CRGX remained flat at $4.47 during trading hours on Friday. CARGO Therapeutics has a twelve month low of $3.00 and a twelve month high of $25.45. The company has a market capitalization of $216.17 million, a PE ratio of -0.96 and a beta of 0.30. The stock has a 50 day moving average of $4.45 and a 200-day moving average of $4.25.

Institutional Trading of CARGO Therapeutics

Several hedge funds have recently bought and sold shares of CRGX. Ascent Group LLC bought a new stake in CARGO Therapeutics during the first quarter valued at about $43,000. Jane Street Group LLC bought a new stake in CARGO Therapeutics during the second quarter valued at about $45,000. XTX Topco Ltd bought a new stake in CARGO Therapeutics during the first quarter valued at about $46,000. Brooklyn Investment Group grew its holdings in CARGO Therapeutics by 512.3% during the first 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. Finally, Los Angeles Capital Management LLC bought a new stake in CARGO Therapeutics during the second quarter valued at about $46,000. Institutional investors own 93.16% of the company's stock.

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.