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

Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) have earned a consensus rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $30.33.

CRGX has been the topic of several analyst reports. Piper Sandler dropped 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 note on Tuesday, August 13th. Chardan Capital assumed coverage on CARGO Therapeutics in a research report on Monday, July 8th. They set a “buy” rating and a $28.00 target price on the stock. Finally, 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.

CARGO Therapeutics Price Performance

Shares of NASDAQ:CRGX opened at $17.42 on Friday. The stock’s 50-day simple moving average is $18.21 and its two-hundred day simple moving average is $19.26. CARGO Therapeutics has a 52-week low of $13.14 and a 52-week high of $33.92.

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. Equities analysts anticipate that CARGO Therapeutics will post -4.37 earnings per share for the current year.

Insider Activity at CARGO Therapeutics

In other CARGO Therapeutics 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 directly owns 6,446 shares of the company’s stock, valued at $162,954.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Anup Radhakrishnan sold 1,600 shares of the 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 sale, the chief financial officer now owns 6,446 shares in the company, valued at $162,954.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gina Chapman sold 2,975 shares of CARGO Therapeutics stock in a transaction that occurred on Thursday, September 19th. The shares were 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 approximately $2,600,742.15. The disclosure for this sale can be found here. 1.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CARGO Therapeutics

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. bought a new stake in CARGO Therapeutics in the 4th quarter valued at $13,333,000. RTW Investments LP bought a new stake in shares of CARGO Therapeutics in the fourth quarter worth about $119,821,000. Perceptive Advisors LLC bought a new stake in shares of CARGO Therapeutics in the fourth quarter worth about $79,557,000. Wellington Management Group LLP purchased a new stake in shares of CARGO Therapeutics in the fourth quarter worth about $39,009,000. Finally, BNP Paribas Financial Markets bought a new position in CARGO Therapeutics during the first quarter valued at approximately $238,000. Hedge funds and other institutional investors 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.