H.C. Wainwright downgraded Cargo Therapeutics (CRGX) to Neutral from Buy without a price target The company’s FIRCE-1 trial was discontinued due to a low durability of complete responses and occurrence of safety events, the analyst tells investors in a research note. After eliminating firi-cel from its discounted cash flow-based valuation, H.C. Wainwright downgraded the shares. It believes it most prudent to step to the sidelines as the company evaluates its future.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRGX:
- 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
- Cargo Therapeutics sinks 75% to $3.23 after study failure, analyst downgrades
- Cargo Therapeutics downgraded to Market Perform from Outperform at William Blair