CARGO Therapeutics (NASDAQ:CRGX) Now Covered by Analysts at William Blair

William Blair initiated coverage on shares of CARGO Therapeutics (NASDAQ:CRGX) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating on the stock. William Blair also issued estimates for CARGO Therapeutics’ Q4 2024 earnings at ($0.97) EPS, FY2024 earnings at ($3.74) EPS, FY2025 earnings at ($3.57) EPS, FY2026 earnings at ($3.34) EPS and FY2027 earnings at ($1.39) EPS.

Several other research firms have also issued reports on CRGX. Chardan Capital restated a “buy” rating and set a $28.00 price target on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of CARGO Therapeutics in a research note on Friday, November 15th. Finally, Piper Sandler lowered their price target 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $30.33.

CARGO Therapeutics Stock Up 2.6 %

Shares of CRGX stock opened at $17.67 on Tuesday. The business has a 50-day moving average price of $19.46 and a two-hundred day moving average price of $18.39. CARGO Therapeutics has a 12-month low of $13.56 and a 12-month high of $33.92. The firm has a market cap of $813.35 million and a P/E ratio of -4.15.

CARGO Therapeutics (NASDAQ:CRGX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.26. As a group, research analysts expect that CARGO Therapeutics will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling

In other CARGO Therapeutics news, CEO Gina Chapman sold 2,975 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 103,905 shares in the company, valued at approximately $2,600,742.15. This represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anup Radhakrishnan sold 1,600 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 directly owns 6,446 shares of the company’s stock, valued at $162,954.88. This represents a 19.89 % decrease in their position. The disclosure for this sale can be found here. 1.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CARGO Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in 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 buying an additional 77,508 shares during the period. RTW Investments LP lifted its position 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 acquiring an additional 20,833 shares during the period. Perceptive Advisors LLC boosted its stake in CARGO Therapeutics by 6.8% during the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock worth $60,475,000 after acquiring an additional 235,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in CARGO Therapeutics by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,093,347 shares of the company’s stock worth $69,044,000 after purchasing an additional 854,840 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of CARGO Therapeutics by 1.8% during the third 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. 93.16% of the stock is owned by hedge funds and other institutional investors.

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.