CARGO Therapeutics, Inc. (NASDAQ:CRGX) Given Average Rating of “Buy” by Analysts

CARGO Therapeutics, Inc. (NASDAQ:CRGX) has been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $30.33.

Several equities research analysts have recently weighed in on CRGX shares. HC Wainwright reissued 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 cut their price objective on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Finally, Chardan Capital began coverage on CARGO Therapeutics in a report on Monday, July 8th. They set a “buy” rating and a $28.00 price objective on the stock.

CARGO Therapeutics Price Performance

CARGO Therapeutics stock opened at $21.85 on Wednesday. The firm’s fifty day moving average price is $18.79 and its 200 day moving average price is $18.47. CARGO Therapeutics has a 12-month low of $13.14 and a 12-month high of $33.92. The company has a market capitalization of $1.00 billion and a price-to-earnings ratio of -0.43.

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

Insider Transactions at CARGO Therapeutics

In other CARGO Therapeutics news, CFO Anup Radhakrishnan sold 1,600 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total transaction of $40,448.00. Following the completion of the transaction, the chief financial officer now owns 6,446 shares of the company’s stock, valued at approximately $162,954.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CARGO Therapeutics news, CEO Gina Chapman sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.03, for a total value of $74,464.25. Following the completion of the sale, the chief executive officer now owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anup Radhakrishnan sold 1,600 shares of the business’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 value of $40,448.00. Following the sale, the chief financial officer now directly owns 6,446 shares of the company’s stock, valued at $162,954.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On CARGO Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new position in shares of CARGO Therapeutics during the 4th quarter valued at $39,009,000. Yu Fan bought a new position in CARGO Therapeutics during the 2nd quarter valued at approximately $14,975,000. Price T Rowe Associates Inc. MD raised its holdings in CARGO Therapeutics by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,093,347 shares of the company’s stock worth $69,044,000 after buying an additional 854,840 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CARGO Therapeutics by 179.5% during the first quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company’s stock valued at $24,916,000 after purchasing an additional 716,868 shares in the last quarter. Finally, Cowen AND Company LLC boosted its holdings in CARGO Therapeutics by 121.7% in the second quarter. Cowen AND Company LLC now owns 554,305 shares of the company’s stock worth $9,102,000 after purchasing an additional 304,305 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors.

About CARGO Therapeutics

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.