CARGO Therapeutics (NASDAQ:CRGX) Trading Up 5.3%

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) traded up 5.3% during 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

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

CARGO Therapeutics Stock Performance

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

Institutional Trading of CARGO Therapeutics

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

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.