CARGO Therapeutics (NASDAQ:CRGX) Shares Down 3.2%

CARGO Therapeutics, Inc. (NASDAQ:CRGX)’s share price was down 3.2% during trading on Wednesday . The company traded as low as $19.13 and last traded at $19.37. Approximately 25,864 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 277,271 shares. The stock had previously closed at $20.00.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their price target on CARGO Therapeutics from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 22nd.

CARGO Therapeutics Price Performance

The business has a fifty day moving average price of $23.97.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings data on Thursday, March 21st. The company reported ($1.49) earnings per share for the quarter, beating the consensus estimate of ($1.62) by $0.13. As a group, equities analysts expect that CARGO Therapeutics, Inc. will post -5.6 EPS for the current fiscal year.

Institutional Investors Weigh In On CARGO Therapeutics

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

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.