Insider Selling: CARGO Therapeutics, Inc. (NASDAQ:CRGX) CEO Sells $74,464.25 in Stock

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CEO Gina Chapman sold 2,975 shares of the company’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 directly owns 103,905 shares in the company, valued at $2,600,742.15. The sale was disclosed in a filing with the SEC, which is available through this link.

CARGO Therapeutics Trading Down 4.6 %

CRGX stock opened at $23.85 on Monday. CARGO Therapeutics, Inc. has a twelve month low of $13.14 and a twelve month high of $33.92. The firm’s fifty day simple moving average is $18.09 and its two-hundred day simple moving average is $19.43.

CARGO Therapeutics (NASDAQ:CRGX) last issued its quarterly earnings results on Monday, August 12th. The company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.04. Analysts anticipate that CARGO Therapeutics, Inc. will post -4.37 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. bought a new position in CARGO Therapeutics in the 4th quarter valued at $13,333,000. RTW Investments LP purchased a new position in CARGO Therapeutics in the 4th quarter worth about $119,821,000. Perceptive Advisors LLC bought a new stake in CARGO Therapeutics during the 4th quarter valued at about $79,557,000. Wellington Management Group LLP bought a new stake in CARGO Therapeutics during the 4th quarter valued at about $39,009,000. Finally, BNP Paribas Financial Markets purchased a new stake in CARGO Therapeutics in the 1st quarter valued at about $238,000. Institutional investors own 93.16% of the company’s stock.

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.