Q2 2024 Earnings Estimate for CARGO Therapeutics, Inc. (NASDAQ:CRGX) Issued By HC Wainwright

CARGO Therapeutics, Inc. (NASDAQ:CRGX) – Equities research analysts at HC Wainwright issued their Q2 2024 earnings per share estimates for shares of CARGO Therapeutics in a research report issued on Monday, July 22nd. HC Wainwright analyst R. Burns anticipates that the company will post earnings per share of ($0.94) for the quarter. HC Wainwright has a “Buy” rating and a $33.00 price objective on the stock. The consensus estimate for CARGO Therapeutics’ current full-year earnings is ($4.59) per share. HC Wainwright also issued estimates for CARGO Therapeutics’ Q3 2024 earnings at ($0.91) EPS, Q4 2024 earnings at ($0.97) EPS, Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($1.04) EPS, Q3 2025 earnings at ($1.05) EPS, Q4 2025 earnings at ($0.99) EPS and FY2025 earnings at ($4.08) EPS.

Several other equities analysts also recently commented on the company. Truist Financial restated a “buy” rating and set a $32.00 target price (down previously from $34.00) on shares of CARGO Therapeutics in a research report on Thursday, May 16th. Chardan Capital began coverage on CARGO Therapeutics in a research note on Monday, July 8th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Piper Sandler began coverage on CARGO Therapeutics in a research note on Thursday, June 27th. They set an “overweight” rating and a $37.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $30.83.

CARGO Therapeutics Stock Performance

CARGO Therapeutics stock opened at $17.70 on Wednesday. CARGO Therapeutics has a one year low of $13.14 and a one year high of $33.92. The business has a 50 day simple moving average of $17.37 and a 200 day simple moving average of $20.72.

CARGO Therapeutics (NASDAQ:CRGX) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.87) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.18.

Institutional Trading of CARGO Therapeutics

A number of hedge funds have recently made changes to their positions in CRGX. Ameritas Investment Partners Inc. bought a new position in shares of CARGO Therapeutics during the first quarter worth approximately $48,000. American International Group Inc. bought a new position in shares of CARGO Therapeutics in the 1st quarter valued at $237,000. BNP Paribas Financial Markets acquired a new stake in shares of CARGO Therapeutics during the 1st quarter valued at $238,000. California State Teachers Retirement System acquired a new stake in shares of CARGO Therapeutics during the 1st quarter valued at $337,000. Finally, Swiss National Bank acquired a new stake in shares of CARGO Therapeutics during the 1st quarter valued at $636,000. 93.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 294,000 shares of CARGO Therapeutics stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $17.00 per share, with a total value of $4,998,000.00. Following the completion of the transaction, the insider now owns 4,415,689 shares of the company’s stock, valued at approximately $75,066,713. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.38% of the stock is owned by corporate insiders.

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.