JPMorgan double downgraded Cargo Therapeutics (CRGX) to Underweight from Overweight without a price target The firm believes the shares will underperform following the failure of firi-cel in the pivotal FIRCE-1 trial. The shares will not recover near-term as the story pivots to the preclinical tri-specific program given the perceived platform risks, the analyst tells investors in a research note. While management reiterated their confidence on CRG-023, investor sentiment “will remain muted for the time being,” contends JPMorgan.
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Read More on CRGX:
- Cargo Therapeutics downgraded to Market Perform from Outperform at William Blair
- Cargo Therapeutics downgraded to Neutral from Overweight at Piper Sandler
- Cargo Therapeutics downgraded to Hold from Buy at Jefferies
- Cargo Therapeutics downgraded to Neutral from Buy at Chardan
- Cargo Therapeutics to discontinue FIRCE-1 Phase 2 study of Firi-cel