CARGO Therapeutics’ (CRGX) Buy Rating Reiterated at HC Wainwright

CARGO Therapeutics (NASDAQ:CRGX)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $33.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 94.12% from the company’s current price.

CRGX has been the subject of a number of other reports. Chardan Capital reiterated a “buy” rating and set a $28.00 price objective on shares of CARGO Therapeutics in a research note on Wednesday. Piper Sandler lowered their price target on CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a 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 presently has an average rating of “Buy” and an average price target of $30.33.

CARGO Therapeutics Trading Down 10.7 %

CRGX opened at $17.00 on Friday. The company’s 50 day moving average is $20.69 and its 200 day moving average is $18.63. The company has a market cap of $782.51 million and a price-to-earnings ratio of -3.99. CARGO Therapeutics has a 12-month low of $13.56 and a 12-month high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.26. As a group, analysts predict that CARGO Therapeutics will post -4.37 EPS for the current fiscal year.

Insider Activity

In related news, CFO Anup Radhakrishnan sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $25.28, for a total value of $40,448.00. Following the transaction, the chief financial officer now owns 6,446 shares of the company’s stock, valued at $162,954.88. This trade represents a 19.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gina Chapman sold 2,975 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.38% of the company’s stock.

Institutional Trading of CARGO Therapeutics

Large investors have recently modified their holdings of the company. Yu Fan bought a new stake in CARGO Therapeutics during the 2nd quarter valued at $14,975,000. Price T Rowe Associates Inc. MD increased its stake in shares of CARGO Therapeutics by 38.2% during 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 buying an additional 854,840 shares during the period. Vanguard Group Inc. raised its holdings in shares of CARGO Therapeutics by 179.5% in the first quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company’s stock valued at $24,916,000 after acquiring an additional 716,868 shares in the last quarter. Cowen AND Company LLC lifted its stake in CARGO Therapeutics by 121.7% in the second 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 during the period. Finally, Novo Holdings A S grew its holdings in CARGO Therapeutics by 23.5% during 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. Hedge funds and other institutional investors 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.