CARGO Therapeutics (NASDAQ:CRGX) Shares Gap Down to $22.41

CARGO Therapeutics, Inc. (NASDAQ:CRGX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $22.41, but opened at $21.83. CARGO Therapeutics shares last traded at $22.82, with a volume of 8,171 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial assumed coverage on shares of CARGO Therapeutics in a research note on Tuesday, December 5th. They issued a “buy” rating and a $34.00 price objective for the company. Jefferies Financial Group raised their price target on shares of CARGO Therapeutics from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. initiated coverage on shares of CARGO Therapeutics in a research note on Tuesday, December 5th. They set an “overweight” rating and a $23.00 price target for the company. Finally, TD Cowen initiated coverage on shares of CARGO Therapeutics in a research note on Tuesday, December 5th. They set an “outperform” rating for the company.

CARGO Therapeutics Trading Down 2.6 %

The stock has a fifty day moving average of $24.45.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in CARGO Therapeutics in the 4th quarter valued at $232,000. Goldman Sachs Group Inc. bought a new position in CARGO Therapeutics in the 4th quarter valued at $287,000. Northern Trust Corp bought a new position in CARGO Therapeutics in the 4th quarter valued at $877,000. Norges Bank bought a new position in CARGO Therapeutics in the 4th quarter valued at $1,130,000. Finally, Sphera Funds Management LTD. bought a new position in CARGO Therapeutics in the 4th quarter valued at $1,736,000. 93.16% of the stock is owned by institutional investors.

CARGO Therapeutics Company Profile

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.