CARGO Therapeutics, Inc. (NASDAQ:CRGX – Get Free Report) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 4,170,000 shares, a decline of 9.7% from the August 31st total of 4,620,000 shares. Based on an average trading volume of 326,600 shares, the days-to-cover ratio is currently 12.8 days. Approximately 13.2% of the company’s shares are sold short.
CARGO Therapeutics Trading Down 2.7 %
Shares of CRGX traded down $0.49 on Tuesday, reaching $17.96. The stock had a trading volume of 89,137 shares, compared to its average volume of 270,798. The company has a 50-day simple moving average of $18.28 and a 200-day simple moving average of $18.95. CARGO Therapeutics has a 12-month low of $13.14 and a 12-month high of $33.92.
CARGO Therapeutics (NASDAQ:CRGX – Get Free Report) last released its earnings results on Monday, August 12th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.04. Equities research analysts predict that CARGO Therapeutics will post -4.37 earnings per share for the current fiscal year.
Insider Buying and Selling
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in CRGX. Ameritas Investment Partners Inc. bought a new position in shares of CARGO Therapeutics during the 1st quarter valued at about $48,000. American International Group Inc. purchased a new stake in CARGO Therapeutics during the first quarter valued at approximately $237,000. BNP Paribas Financial Markets purchased a new position in shares of CARGO Therapeutics in the 1st quarter worth approximately $238,000. California State Teachers Retirement System bought a new position in shares of CARGO Therapeutics during the 1st quarter valued at approximately $337,000. Finally, Swiss National Bank bought a new stake in CARGO Therapeutics in the first quarter worth $636,000. 93.16% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on CRGX. Chardan Capital began coverage on CARGO Therapeutics in a report on Monday, July 8th. They set a “buy” rating and a $28.00 price target for the company. Piper Sandler decreased their price target on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of CARGO Therapeutics in a report on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.33.
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.
See Also
- Five stocks we like better than CARGO Therapeutics
- Consumer Discretionary Stocks Explained
- Why Lennar Stock Could Be the Best Play in the Housing Market
- What is a Stock Market Index and How Do You Use Them?
- 2 Energy Stocks Fueling the AI Datacenter Boom
- Why Invest in 5G? How to Invest in 5G Stocks
- Will Marinus Pharmaceuticals Be the Next Big Winner in Biotech?
Receive News & Ratings for CARGO Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CARGO Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.