Wall Street Zen Upgrades CARGO Therapeutics (NASDAQ:CRGX) to Sell

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "sell" rating in a research report issued on Friday.IPO watch 2024: Which new stocks will hit the market?Separately, Jefferies Financial Group increased their price objective on CARGO Therapeutics from $3.70 to $5.00 and gave the stock a "hold" rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CARGO Therapeutics has a consensus rating of "Reduce" and an average price target of $15.40.Get CARGO Therapeutics alerts:Check Out Our Latest Stock Report on CARGO TherapeuticsCARGO Therapeutics Price PerformanceShares of CRGX stock opened at $4.47 on Friday. The stock has a fifty day moving average of $4.44 and a 200 day moving average of $4.23. CARGO Therapeutics has a 52 week low of $3.00 and a 52 week high of $25.45. The firm has a market capitalization of $216.17 million, a price-to-earnings ratio of -0.96 and a beta of 0.30. Hedge Funds Weigh In On CARGO TherapeuticsInstitutional investors and hedge funds have recently modified their holdings of the stock. Ascent Group LLC bought a new position in shares of CARGO Therapeutics during the first quarter valued at $43,000. Jane Street Group LLC bought a new position in shares of CARGO Therapeutics during the second quarter valued at $45,000. XTX Topco Ltd bought a new position in shares of CARGO Therapeutics during the first quarter valued at $46,000. Brooklyn Investment Group increased its holdings in shares of CARGO Therapeutics by 512.3% during the first quarter. Brooklyn Investment Group now owns 11,328 shares of the company's stock valued at $46,000 after acquiring an additional 9,478 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of CARGO Therapeutics during the second quarter valued at $46,000. 93.16% of the stock is currently owned by institutional investors. About CARGO Therapeutics (Get Free Report)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.Featured ArticlesFive stocks we like better than CARGO Therapeutics3 Monster Growth Stocks to Buy NowRoyal Caribbean Earnings Beat Fuels Strong 2025 OutlookWhat is a Low P/E Ratio and What Does it Tell Investors?Alphabet’s Breakout Potential: From Laggard to AI LeaderBest of the list of Dividend Aristocrats: Build wealth with the aristocrat indexTJX Stock Price Hits Fresh High, Signals More Highs to FollowThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in CARGO Therapeutics Right Now?Before you consider CARGO Therapeutics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CARGO Therapeutics wasn't on the list.While CARGO Therapeutics currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here