CARGO Therapeutics, Inc. (NASDAQ:CRGX) CFO Sells $40,448.00 in Stock

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CFO Anup Radhakrishnan sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total transaction of $40,448.00. Following the sale, the chief financial officer now directly owns 6,446 shares of the company’s stock, valued at approximately $162,954.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CARGO Therapeutics Stock Down 4.6 %

Shares of NASDAQ:CRGX traded down $1.15 on Friday, reaching $23.85. 3,741,782 shares of the company’s stock were exchanged, compared to its average volume of 270,748. The business’s 50-day moving average is $17.97 and its two-hundred day moving average is $19.56. CARGO Therapeutics, Inc. has a fifty-two week low of $13.14 and a fifty-two week high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings data on Monday, August 12th. The company reported ($1.02) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.04. Equities analysts anticipate that CARGO Therapeutics, Inc. will post -4.37 EPS for the current year.

Institutional Trading of CARGO Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new position in CARGO Therapeutics during the 1st quarter worth $48,000. American International Group Inc. bought a new position in shares of CARGO Therapeutics during the first quarter worth about $237,000. BNP Paribas Financial Markets acquired a new stake in shares of CARGO Therapeutics in the 1st quarter worth about $238,000. California State Teachers Retirement System bought a new stake in CARGO Therapeutics in the 1st quarter valued at about $337,000. Finally, Rhumbline Advisers boosted its stake in CARGO Therapeutics by 14.0% during the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after purchasing an additional 3,765 shares during the period. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on CRGX shares. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of CARGO Therapeutics in a research note on Tuesday, August 13th. Piper Sandler reduced their price target on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, Chardan Capital started coverage on CARGO Therapeutics in a research note on Monday, July 8th. They issued a “buy” rating and a $28.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $30.33.

CARGO Therapeutics Company Profile

CARGO Therapeutics, Inc, a clinical-stage biotechnology company, develops chimeric antigen receptor (CAR) T-cell therapies for cancer patients. The company's lead program is CRG-022, an autologous CD22 CAR T-cell product candidate designed to address resistance mechanisms by targeting CD22, an alternate tumor antigen that is expressed in B-cell malignancies.