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The latest announcement is out from CARGO Therapeutics, Inc. ( (CRGX) ).
On June 27, 2025, CARGO Therapeutics, Inc. entered into an Assignment and Assumption of Lease with Dren Bio Management, Inc., transferring its rights and obligations for a property lease in San Carlos, California. This move aligns with CARGO’s strategy to suspend certain development efforts and explore strategic alternatives. The agreement includes financial settlements with the landlord and provisions for the assignee to assume responsibilities for the sublease with Vaxcyte, Inc., effective from a future date, impacting the company’s operational footprint and financial liabilities.
The most recent analyst rating on (CRGX) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on CARGO Therapeutics, Inc. stock, see the CRGX Stock Forecast page.
Spark’s Take on CRGX Stock
According to Spark, TipRanks’ AI Analyst, CRGX is a Underperform.
CARGO Therapeutics faces significant challenges with no revenue and increasing losses. The company’s decision to reduce workforce and pipeline efforts reflects financial distress. Although the technical indicators show some short-term upward momentum, the longer-term outlook remains weak. The negative valuation metrics further highlight profitability concerns. The strategic focus on CAR T therapy and potential partnerships may provide future opportunities but require careful financial management.
To see Spark’s full report on CRGX stock, click here.
More about CARGO Therapeutics, Inc.
Average Trading Volume: 674,905
Technical Sentiment Signal: Sell
Current Market Cap: $193.2M
See more data about CRGX stock on TipRanks’ Stock Analysis page.