Lucid Capital downgraded Cargo Therapeutics (CRGX) to Neutral from Buy with a price target of $4, down from $34, after the company announced the discontinuation of the Phase 2 FIRCE-1 study investigating firi-cel in relapsed/ refractory patients with large B-cell lymphoma. The firm removed firi-cel from its valuation and reduced Cargo’s earlier pipeline and platform value. It awaits clinical data from pipeline programs before getting more constructive on the shares.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRGX:
- Shares in Cargo Therapeutics Dive after It Scraps Cancer Trial and Slashes Jobs
- Cargo Therapeutics downgraded to Neutral from Buy at H.C. Wainwright
- Cargo Therapeutics downgraded to Hold from Buy at Truist
- Cargo Therapeutics downgraded to Hold at Truist after Firi-cel disappointment
- Cargo Therapeutics downgraded to Underweight from Overweight at JPMorgan