CARGO Therapeutics (NASDAQ:CRGX) Given Buy Rating at Chardan Capital

CARGO Therapeutics (NASDAQ:CRGX)‘s stock had its “buy” rating reiterated by research analysts at Chardan Capital in a research note issued on Wednesday,Benzinga reports. They currently have a $28.00 target price on the stock. Chardan Capital’s price objective indicates a potential upside of 47.14% from the company’s previous close.

Several other equities research analysts have also commented on the company. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a research note on Tuesday, August 13th. Piper Sandler reduced their price target on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, CARGO Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $30.33.

CARGO Therapeutics Stock Performance

Shares of NASDAQ CRGX traded down $2.11 during midday trading on Wednesday, hitting $19.03. 186,486 shares of the company’s stock traded hands, compared to its average volume of 256,552. The firm has a fifty day moving average of $20.67 and a 200 day moving average of $18.63. CARGO Therapeutics has a 1 year low of $13.56 and a 1 year high of $33.92. The stock has a market capitalization of $873.48 million and a price-to-earnings ratio of -4.47.

CARGO Therapeutics (NASDAQ:CRGX) last announced its earnings results on Monday, August 12th. The company reported ($1.02) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.04. On average, equities analysts anticipate that CARGO Therapeutics will post -4.37 earnings per share for the current year.

Insider Buying and Selling at CARGO Therapeutics

In other news, CEO Gina Chapman sold 2,975 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, 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 transaction of $74,464.25. Following the sale, the chief executive officer now owns 103,905 shares in the company, valued at $2,600,742.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anup Radhakrishnan sold 1,600 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 6,446 shares in the company, valued at $162,954.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in CARGO Therapeutics in the first quarter worth $48,000. American International Group Inc. purchased a new position in shares of CARGO Therapeutics in the 1st quarter worth $237,000. BNP Paribas Financial Markets bought a new stake in shares of CARGO Therapeutics in the 1st quarter worth about $238,000. SG Americas Securities LLC bought a new stake in shares of CARGO Therapeutics in the 3rd quarter worth about $234,000. Finally, California State Teachers Retirement System purchased a new stake in shares of CARGO Therapeutics during the 1st quarter valued at about $337,000. 93.16% of the stock is currently owned by institutional investors.

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.