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

Chardan Capital reaffirmed their buy rating on shares of CARGO Therapeutics (NASDAQ:CRGX) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $28.00 target price on the stock.

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

CARGO Therapeutics Trading Down 10.0 %

CRGX opened at $19.03 on Wednesday. CARGO Therapeutics has a twelve month low of $13.56 and a twelve month high of $33.92. The stock has a market cap of $873.48 million and a PE ratio of -4.47. The business’s 50 day moving average is $20.67 and its 200-day moving average is $18.63.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings results on Monday, August 12th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.04. As a group, analysts forecast that CARGO Therapeutics will post -4.37 EPS for the current year.

Insider Buying and Selling

In other CARGO Therapeutics news, CFO Anup Radhakrishnan sold 1,600 shares of the company’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 completion of the sale, the chief financial officer now directly owns 6,446 shares of the company’s stock, valued at approximately $162,954.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Gina Chapman sold 2,975 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.03, for a total transaction of $74,464.25. Following the sale, the chief executive officer now directly owns 103,905 shares of the company’s stock, valued at $2,600,742.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Anup Radhakrishnan sold 1,600 shares of the 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 transaction, the chief financial officer now owns 6,446 shares of the company’s stock, valued at $162,954.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.38% of the stock is owned by corporate insiders.

Institutional Trading of CARGO Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of CARGO Therapeutics in the first quarter worth approximately $48,000. Rhumbline Advisers lifted its position 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 acquiring an additional 3,765 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in CARGO Therapeutics by 11.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,171 shares of the company’s stock worth $1,136,000 after purchasing an additional 7,146 shares during the period. MetLife Investment Management LLC grew its position in CARGO Therapeutics by 59.3% during the 3rd quarter. MetLife Investment Management LLC now owns 19,833 shares of the company’s stock worth $366,000 after purchasing an additional 7,380 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in CARGO Therapeutics by 437.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,438 shares of the company’s stock valued at $211,000 after purchasing an additional 9,311 shares during the period. Institutional investors and hedge funds 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.