Anup Radhakrishnan Sells 1,600 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) Stock

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CFO Anup Radhakrishnan sold 1,600 shares of the business’s stock in a transaction 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 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 the SEC website.

CARGO Therapeutics Price Performance

CRGX stock opened at $23.85 on Friday. The company’s 50-day moving average price is $18.09 and its two-hundred day moving average price is $19.48. CARGO Therapeutics, Inc. has a 12 month low of $13.14 and a 12 month high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last announced its quarterly earnings data on Monday, August 12th. The company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.04. On average, sell-side analysts expect that CARGO Therapeutics, Inc. will post -4.37 EPS for the current fiscal year.

Analyst Ratings Changes

CRGX has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a research report on Tuesday, August 13th. Piper Sandler decreased their target price on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, Chardan Capital began coverage on shares of CARGO Therapeutics in a report on Monday, July 8th. They set a “buy” rating and a $28.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $30.33.

Hedge Funds Weigh In On CARGO Therapeutics

A number of institutional investors have recently modified their holdings of CRGX. Ameritas Investment Partners Inc. acquired a new stake in CARGO Therapeutics in the first quarter valued at about $48,000. American International Group Inc. acquired a new stake in shares of CARGO Therapeutics in the 1st quarter valued at approximately $237,000. BNP Paribas Financial Markets acquired a new stake in shares of CARGO Therapeutics in the 1st quarter valued at approximately $238,000. California State Teachers Retirement System bought a new stake in shares of CARGO Therapeutics during the 1st quarter valued at approximately $337,000. Finally, Rhumbline Advisers increased its position in CARGO Therapeutics by 14.0% during the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock worth $503,000 after purchasing an additional 3,765 shares in the last quarter. 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.