The stock price of CARGO Therapeutics Inc (NASDAQ: CRGX) has dropped by -18.32 compared to previous close of 23.85. Despite this, the company has seen a fall of -14.60% in its stock price over the last five trading days. fool.com reported 2024-08-16 that The cancer-focused biotech published its second-quarter results. Its loss was much narrower than analysts had expected.
Is It Worth Investing in CARGO Therapeutics Inc (NASDAQ: CRGX) Right Now?
There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CRGX is 31.59M and currently, short sellers hold a 14.63% ratio of that float. The average trading volume of CRGX on September 24, 2024 was 323.45K shares.
CRGX’s Market Performance
The stock of CARGO Therapeutics Inc (CRGX) has seen a -14.60% decrease in the past week, with a 12.08% rise in the past month, and a 25.11% gain in the past quarter. The volatility ratio for the week is 10.29%, and the volatility levels for the past 30 days are at 7.72% for CRGX. The simple moving average for the past 20 days is -4.68% for CRGX’s stock, with a -3.04% simple moving average for the past 200 days.
Analysts’ Opinion of CRGX
Many brokerage firms have already submitted their reports for CRGX stocks, with H.C. Wainwright repeating the rating for CRGX by listing it as a “Buy.” The predicted price for CRGX in the upcoming period, according to H.C. Wainwright is $33 based on the research report published on July 22, 2024 of the current year 2024.
Chardan Capital Markets, on the other hand, stated in their research note that they expect to see CRGX reach a price target of $28. The rating they have provided for CRGX stocks is “Buy” according to the report published on July 08th, 2024.
Piper Sandler gave a rating of “Overweight” to CRGX, setting the target price at $37 in the report published on June 27th of the current year.
CRGX Trading at 7.79% 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 -42.57% of loss for the given period.
Volatility was left at 7.72%, however, over the last 30 days, the volatility rate increased by 10.29%, as shares surge +8.52% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.06% upper at present.
During the last 5 trading sessions, CRGX fell by -14.60%, which changed the moving average for the period of 200-days by +24.00% in comparison to the 20-day moving average, which settled at $20.51. In addition, CARGO Therapeutics Inc saw -15.85% 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 Chapman Gina, who sale 7,166 shares at the price of $25.09 back on Sep 18 ’24. After this action, Chapman Gina now owns 103,905 shares of CARGO Therapeutics Inc, valued at $179,775 using the latest closing price.
Chapman Gina, the President & CEO of CARGO Therapeutics Inc, sale 2,975 shares at $25.03 during a trade that took place back on Sep 19 ’24, which means that Chapman Gina is holding 103,905 shares at $74,457 based on the most recent closing price.
Stock Fundamentals for CRGX
The total capital return value is set at -0.33.
Based on CARGO Therapeutics Inc (CRGX), the company’s capital structure generated 0.06 points at debt to capital in total, while cash flow to debt ratio is standing at -4.17.
Currently, EBITDA for the company is -93.02 million with net debt to EBITDA at 0.86. The liquidity ratio also appears to be rather interesting for investors as it stands at 16.96.
Conclusion
In conclusion, CARGO Therapeutics Inc (CRGX) has seen mixed performance in recent times. Analysts have a bullish 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.
