CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives $30.33 Consensus PT from Analysts

CARGO Therapeutics, Inc. (NASDAQ:CRGX) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $30.33.

Several analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of CARGO Therapeutics in a research report on Tuesday, August 13th. Piper Sandler reduced their target price on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th.

CARGO Therapeutics Stock Down 3.8 %

NASDAQ CRGX opened at $21.14 on Friday. The business’s fifty day simple moving average is $20.60 and its 200-day simple moving average is $18.61. The firm has a market cap of $970.43 million and a PE ratio of -0.43. CARGO Therapeutics has a 52 week low of $13.14 and a 52 week high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last issued its earnings results on Monday, August 12th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.04. Research analysts expect that CARGO Therapeutics will post -4.37 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRGX. Ameritas Investment Partners Inc. purchased a new position in shares of CARGO Therapeutics during the first quarter worth about $48,000. SG Americas Securities LLC acquired a new position in CARGO Therapeutics during the third quarter worth approximately $234,000. American International Group Inc. purchased a new stake in CARGO Therapeutics in the first quarter valued at approximately $237,000. BNP Paribas Financial Markets acquired a new stake in shares of CARGO Therapeutics in the first quarter valued at approximately $238,000. Finally, California State Teachers Retirement System purchased a new position in shares of CARGO Therapeutics during the first quarter worth approximately $337,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

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.