William Blair analyst Sami Corwin has maintained their neutral stance on CRGX stock, giving a Hold rating today.
Sami Corwin has given his Hold rating due to a combination of factors related to CARGO Therapeutics, Inc.’s current developmental stage and future prospects. The company has recently filed its 10-K for the full year 2024, but there have been no significant updates since the discontinuation of the Phase II FIRCE-1 trial. This trial, which was evaluating firi-cel in patients with large B-cell lymphoma, was terminated due to a lack of near-term clinical advancements.
Looking ahead, CARGO plans to begin enrollment for a Phase I study of CRG-023 in the second quarter of 2025. While the CRG-023 and the company’s Allo Vector platform hold potential for long-term value, they are not expected to produce significant clinical data in the next year. Consequently, the stock is anticipated to remain stable until more information on clinical developments or business opportunities emerges. The projected financial outlook includes a full year 2025 loss of $101.6 million, or $2.03 per share, which further supports the Hold rating.
In another report released today, Piper Sandler also maintained a Hold rating on the stock with a $4.00 price target.