CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives $31.80 Consensus Target Price from Analysts

CARGO Therapeutics, Inc. (NASDAQ:CRGX) has received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.80.

Several research firms have recently issued reports on CRGX. William Blair began coverage on shares of CARGO Therapeutics in a research report on Tuesday, November 26th. They issued an “outperform” rating on the stock. HC Wainwright restated a “buy” rating and set a $33.00 target price on shares of CARGO Therapeutics in a research report on Friday, November 15th. Finally, Chardan Capital reiterated a “buy” rating and issued a $28.00 price target on shares of CARGO Therapeutics in a research report on Wednesday, November 13th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in CARGO Therapeutics by 437.8% during the third quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock worth $211,000 after buying an additional 9,311 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of CARGO Therapeutics during the third quarter worth about $234,000. JPMorgan Chase & Co. increased its position in shares of CARGO Therapeutics by 74.9% in the third quarter. JPMorgan Chase & Co. now owns 15,007 shares of the company’s stock worth $277,000 after purchasing an additional 6,426 shares during the last quarter. MetLife Investment Management LLC raised its stake in CARGO Therapeutics by 59.3% in the third quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock valued at $366,000 after purchasing an additional 7,380 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in CARGO Therapeutics by 14.0% during the second quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after purchasing an additional 3,765 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Price Performance

NASDAQ:CRGX opened at $15.12 on Monday. The company has a market capitalization of $695.94 million and a P/E ratio of -3.55. The business has a fifty day simple moving average of $17.16 and a two-hundred day simple moving average of $17.76. CARGO Therapeutics has a 1 year low of $12.17 and a 1 year high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.26. As a group, analysts anticipate that CARGO Therapeutics will post -3.73 earnings per share for the current year.

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.