CARGO Therapeutics (NASDAQ:CRGX) Given Buy Rating at HC Wainwright

CARGO Therapeutics (NASDAQ:CRGX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $33.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 94.12% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Chardan Capital restated a “buy” rating and issued a $28.00 price target on shares of CARGO Therapeutics in a report on Wednesday. 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. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $30.33.

CARGO Therapeutics Trading Down 10.7 %

Shares of NASDAQ CRGX opened at $17.00 on Friday. CARGO Therapeutics has a 12-month low of $13.56 and a 12-month high of $33.92. The stock’s fifty day simple moving average is $20.69 and its two-hundred day simple moving average is $18.63. The stock has a market capitalization of $782.51 million and a PE ratio of -3.99.

CARGO Therapeutics (NASDAQ:CRGX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.26. On average, equities analysts predict that CARGO Therapeutics will post -4.37 earnings per share for the current fiscal year.

Insider Activity at CARGO Therapeutics

In other news, CEO Gina Chapman sold 2,975 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 103,905 shares of the company’s stock, valued at $2,600,742.15. The trade was a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anup Radhakrishnan sold 1,600 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was 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 owns 6,446 shares in the company, valued at $162,954.88. The trade was a 19.89 % decrease in their position. The disclosure for this sale can be found here. 1.38% of the stock is owned by insiders.

Hedge Funds Weigh In On CARGO Therapeutics

Large investors have recently made changes to their positions in the company. Yu Fan acquired a new stake in shares of CARGO Therapeutics during the 2nd quarter valued at about $14,975,000. Price T Rowe Associates Inc. MD grew 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 valued at $69,044,000 after purchasing an additional 854,840 shares during the period. Vanguard Group Inc. lifted its position in shares of CARGO Therapeutics by 179.5% during the 1st quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company’s stock valued at $24,916,000 after buying an additional 716,868 shares in the last quarter. Cowen AND Company LLC increased its holdings in CARGO Therapeutics by 121.7% in the 2nd quarter. Cowen AND Company LLC now owns 554,305 shares of the company’s stock worth $9,102,000 after acquiring an additional 304,305 shares in the last quarter. Finally, Novo Holdings A S increased its holdings in CARGO Therapeutics by 23.5% in the 2nd quarter. Novo Holdings A S now owns 1,544,000 shares of the company’s stock worth $25,352,000 after acquiring an additional 294,000 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

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.