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.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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