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

HC Wainwright restated their buy rating on shares of CARGO Therapeutics (NASDAQ:CRGX) in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a $33.00 price objective on the stock.

Several other brokerages have also recently issued reports on CRGX. Chardan Capital reissued a “buy” rating and set a $28.00 price objective on shares of CARGO Therapeutics in a research note on Wednesday, November 13th. Piper Sandler lowered 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CARGO Therapeutics currently has an average rating of “Buy” and an average price target of $30.33.

CARGO Therapeutics Trading Up 0.3 %

CARGO Therapeutics stock opened at $16.05 on Friday. The stock has a fifty day moving average price of $20.59 and a 200 day moving average price of $18.58. CARGO Therapeutics has a 52 week low of $13.56 and a 52 week high of $33.92. The firm has a market capitalization of $738.78 million and a P/E ratio of -3.76.

CARGO Therapeutics (NASDAQ:CRGX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.26. As a group, equities analysts predict that CARGO Therapeutics will post -3.93 EPS for the current year.

Insider Activity at CARGO Therapeutics

In other CARGO Therapeutics news, CEO Gina Chapman sold 2,975 shares of the 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 completion of the sale, the chief executive officer now owns 103,905 shares of the company’s stock, valued at $2,600,742.15. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction, the chief financial officer now directly owns 6,446 shares in the company, valued at approximately $162,954.88. The trade was a 19.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.38% of the stock is owned by insiders.

Institutional Investors Weigh In On CARGO Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of CARGO Therapeutics by 1.1% during the third quarter. FMR LLC now owns 6,954,476 shares of the company’s stock valued at $128,310,000 after acquiring an additional 77,508 shares in the last quarter. RTW Investments LP grew its stake in CARGO Therapeutics by 0.5% during the 3rd quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock valued at $75,626,000 after purchasing an additional 20,833 shares in the last quarter. Perceptive Advisors LLC increased its holdings in CARGO Therapeutics by 6.8% during the 2nd quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock worth $60,475,000 after purchasing an additional 235,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of CARGO Therapeutics by 38.2% in the 1st 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 in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of CARGO Therapeutics by 1.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock valued at $49,335,000 after purchasing an additional 46,659 shares in the last quarter. Hedge funds and other 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.