CARGO Therapeutics (NASDAQ:CRGX) Trading 3.1% Higher

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) traded up 3.1% on Tuesday . The stock traded as high as $20.50 and last traded at $20.50. 27,072 shares were traded during trading, a decline of 90% from the average session volume of 278,978 shares. The stock had previously closed at $19.89.

Wall Street Analyst Weigh In

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

CARGO Therapeutics Stock Down 2.5 %

The firm’s fifty day moving average is $24.06.

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

Institutional Trading of CARGO Therapeutics

Several hedge funds have recently made changes to their positions in the company. RTW Investments LP bought a new stake in shares of CARGO Therapeutics during the 4th quarter valued at $119,821,000. Perceptive Advisors LLC bought a new stake in shares of CARGO Therapeutics during the 4th quarter valued at $79,557,000. Nextech Invest Ltd. bought a new stake in shares of CARGO Therapeutics during the 4th quarter valued at $61,174,000. Price T Rowe Associates Inc. MD bought a new stake in shares of CARGO Therapeutics during the 4th quarter valued at $51,823,000. Finally, Wellington Management Group LLP bought a new stake in shares of CARGO Therapeutics during the 4th quarter valued at $39,009,000. 93.16% of the stock is currently 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 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.