CARGO Therapeutics (NASDAQ:CRGX) Trading 3.1% Higher

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

Wall Street Analysts Forecast Growth

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

CARGO Therapeutics Price Performance

The business has a 50 day moving average of $24.06.

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

Hedge Funds Weigh In On CARGO Therapeutics

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