CARGO Therapeutics (NASDAQ:CRGX) Trading Up 5.3%

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) shot up 5.3% during mid-day trading on Tuesday . The company traded as high as $25.54 and last traded at $25.28. 19,023 shares were traded during mid-day trading, a decline of 94% from the average session volume of 296,944 shares. The stock had previously closed at $24.00.

Analysts Set New Price Targets

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

CARGO Therapeutics Price Performance

The firm’s 50 day simple moving average is $24.45.

Hedge Funds Weigh In On CARGO Therapeutics

Several large investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in CARGO Therapeutics in the fourth quarter valued at approximately $232,000. Goldman Sachs Group Inc. acquired a new stake in shares of CARGO Therapeutics in the fourth quarter valued at $287,000. Northern Trust Corp purchased a new stake in shares of CARGO Therapeutics in the 4th quarter valued at $877,000. Norges Bank acquired a new position in CARGO Therapeutics during the 4th quarter worth about $1,130,000. Finally, Sphera Funds Management LTD. purchased a new position in CARGO Therapeutics during the 4th quarter valued at about $1,736,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

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.