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

CARGO Therapeutics, Inc. (NASDAQ:CRGX) has received a consensus rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.33.

A number of research analysts have weighed in on CRGX shares. Piper Sandler decreased their price target on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. 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. Finally, HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of CARGO Therapeutics in a research note on Tuesday, August 13th.

Insider Activity

In other 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 directly owns 103,905 shares of the company’s stock, valued at $2,600,742.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other 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 directly owns 103,905 shares of the company’s stock, valued at $2,600,742.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief financial officer now directly owns 6,446 shares of the company’s stock, valued at $162,954.88. The disclosure for this sale can be found here. Insiders own 1.38% of the company’s stock.

Hedge Funds Weigh In On CARGO Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. bought a new stake in shares of CARGO Therapeutics in the 1st quarter valued at about $48,000. American International Group Inc. bought a new stake in CARGO Therapeutics during the 1st quarter worth approximately $237,000. BNP Paribas Financial Markets bought a new position in shares of CARGO Therapeutics in the first quarter valued at approximately $238,000. California State Teachers Retirement System bought a new position in CARGO Therapeutics during the first quarter valued at $337,000. Finally, Rhumbline Advisers grew its holdings in CARGO Therapeutics by 14.0% during the second 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. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Trading Down 2.3 %

NASDAQ:CRGX opened at $19.13 on Friday. CARGO Therapeutics has a 52-week low of $13.14 and a 52-week high of $33.92. The stock has a 50-day simple moving average of $18.18 and a 200 day simple moving average of $19.26.

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

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.