CARGO Therapeutics Inc (NASDAQ: CRGX) has experienced a decline in its stock price by -6.77 compared to its previous closing price of 20.38. However, the company has seen a fall of -9.35% in its stock price over the last five trading days. MarketBeat reported 2024-01-08 that Among 2023 IPOs, one of the top performers was RayzeBio Inc. NASDAQ: RYZB, a biotech that’s out of play now because it’s being acquired by Bristol Myers Squibb Co. NYSE: BMY.
Is It Worth Investing in CARGO Therapeutics Inc (NASDAQ: CRGX) Right Now?
There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for CRGX is 25.73M and currently, short sellers hold a 13.21% ratio of that float. The average trading volume of CRGX on May 10, 2024 was 309.33K shares.
CRGX’s Market Performance
The stock of CARGO Therapeutics Inc (CRGX) has seen a -9.35% decrease in the past week, with a -9.57% drop in the past month, and a -19.39% fall in the past quarter. The volatility ratio for the week is 7.74%, and the volatility levels for the past 30 days are at 6.33% for CRGX. The simple moving average for the last 20 days is -3.65% for CRGX’s stock, with a simple moving average of -9.83% for the last 200 days.
Analysts’ Opinion of CRGX
Many brokerage firms have already submitted their reports for CRGX stocks, with Truist repeating the rating for CRGX by listing it as a “Buy.” The predicted price for CRGX in the upcoming period, according to Truist is $34 based on the research report published on December 05, 2023 of the previous year 2023.
JP Morgan gave a rating of “Overweight” to CRGX, setting the target price at $23 in the report published on December 05th of the previous year.
CRGX Trading at -17.77% from the 50-Day Moving Average
After a stumble in the market that brought CRGX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -43.99% of loss for the given period.
Volatility was left at 6.33%, however, over the last 30 days, the volatility rate increased by 7.74%, as shares sank -11.96% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -24.15% lower at present.
During the last 5 trading sessions, CRGX fell by -9.35%, in comparison to the 20-day moving average, which settled at $19.59. In addition, CARGO Therapeutics Inc saw -17.93% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRGX starting from Third Rock Ventures V, L.P., who purchase 1,333,333 shares at the price of $15.00 back on Nov 14 ’23. After this action, Third Rock Ventures V, L.P. now owns 1,807,119 shares of CARGO Therapeutics Inc, valued at $19,999,995 using the latest closing price.
PERCEPTIVE ADVISORS LLC, the Former 10% Owner of CARGO Therapeutics Inc, purchase 666,666 shares at $15.00 during a trade that took place back on Nov 14 ’23, which means that PERCEPTIVE ADVISORS LLC is holding 2,912,835 shares at $9,999,990 based on the most recent closing price.
Stock Fundamentals for CRGX
The total capital return value is set at -0.17.
Based on CARGO Therapeutics Inc (CRGX), the company’s capital structure generated 0.07 points at debt to capital in total, while cash flow to debt ratio is standing at -2.23. The debt to equity ratio resting at 0.07. The interest coverage ratio of the stock is -27.57.
Currently, EBITDA for the company is -33.35 million with net debt to EBITDA at 4.96. The liquidity ratio also appears to be rather interesting for investors as it stands at 19.35.
Conclusion
In conclusion, CARGO Therapeutics Inc (CRGX) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
