Gina Chapman Sells 2,975 Shares of CARGO Therapeutics, Inc. (NASDAQ:CRGX) Stock

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CEO Gina Chapman sold 2,975 shares of CARGO Therapeutics stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 103,905 shares in the company, valued at $2,600,742.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CARGO Therapeutics Stock Performance

CRGX stock opened at $23.85 on Friday. The company has a fifty day moving average of $18.09 and a 200-day moving average of $19.48. CARGO Therapeutics, Inc. has a one year low of $13.14 and a one year 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 analysts’ consensus estimates of ($1.06) by $0.04. As a group, equities analysts anticipate that CARGO Therapeutics, Inc. will post -4.37 earnings per share for the current fiscal year.

Institutional Trading of CARGO Therapeutics

Institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. acquired a new stake in CARGO Therapeutics in the first quarter valued at $48,000. Rhumbline Advisers increased its holdings in shares of CARGO Therapeutics by 14.0% in the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after purchasing an additional 3,765 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CARGO Therapeutics by 11.5% in the second quarter. Bank of New York Mellon Corp now owns 69,171 shares of the company’s stock valued at $1,136,000 after purchasing an additional 7,146 shares during the period. American International Group Inc. purchased a new stake in CARGO Therapeutics during the first quarter worth about $237,000. Finally, BNP Paribas Financial Markets acquired a new position in CARGO Therapeutics during the first quarter worth about $238,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.