CARGO Therapeutics (NASDAQ:CRGX) Trading Up 3.1%

CARGO Therapeutics, Inc. (NASDAQ:CRGX) was up 3.1% on Tuesday . The stock traded as high as $20.50 and last traded at $20.50. Approximately 27,072 shares changed hands 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 target on shares of CARGO Therapeutics from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 22nd.

CARGO Therapeutics Stock Performance

The business’s 50-day moving average price is $24.18.

CARGO Therapeutics (NASDAQ:CRGX) last posted its earnings results on Thursday, March 21st. The company reported ($1.49) EPS for the quarter, topping the consensus estimate of ($1.62) by $0.13. Equities analysts predict that CARGO Therapeutics, Inc. will post -5.6 earnings per share for the current year.

Institutional Investors Weigh In On CARGO Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. bought a new position in CARGO Therapeutics during the fourth quarter valued at $2,556,000. Norges Bank bought a new position in shares of CARGO Therapeutics in the fourth quarter worth $1,130,000. Franklin Resources Inc. bought a new position in shares of CARGO Therapeutics in the fourth quarter worth $13,333,000. The Manufacturers Life Insurance Company bought a new position in shares of CARGO Therapeutics in the fourth quarter worth $1,810,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of CARGO Therapeutics in the fourth quarter worth $287,000. 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.