CARGO Therapeutics, Inc. (NASDAQ:CRGX) Receives $31.80 Consensus Target Price from Analysts

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Get Free Report) has earned a consensus recommendation of "Buy" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $31.80.

A number of equities analysts recently issued reports on CRGX shares. William Blair started coverage on CARGO Therapeutics in a report on Tuesday, November 26th. They issued an "outperform" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price target on shares of CARGO Therapeutics in a report on Friday, November 15th. Chardan Capital reaffirmed a "buy" rating and issued a $28.00 price target on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Finally, Piper Sandler decreased their price objective on CARGO Therapeutics from $37.00 to $34.00 and set an "overweight" rating for the company in a report on Tuesday, August 13th.

Insider Buying and Selling at CARGO Therapeutics

In other CARGO Therapeutics news, CEO Gina Chapman sold 2,975 shares of CARGO Therapeutics stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.03, for a total value of $74,464.25. Following the completion of the sale, the chief executive officer now owns 103,905 shares in the company, valued at $2,600,742.15. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Anup Radhakrishnan sold 1,600 shares of CARGO Therapeutics 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 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 disclosure for this sale can be found here. 1.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CARGO Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in CARGO Therapeutics by 1.1% during the 3rd quarter. FMR LLC now owns 6,954,476 shares of the company's stock worth $128,310,000 after acquiring an additional 77,508 shares in the last quarter. RTW Investments LP raised its position in shares of CARGO Therapeutics by 0.5% in the 3rd quarter. RTW Investments LP now owns 4,098,955 shares of the company's stock valued at $75,626,000 after purchasing an additional 20,833 shares in the last quarter. Perceptive Advisors LLC raised its position in shares of CARGO Therapeutics by 6.8% in the 2nd quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company's stock valued at $60,475,000 after purchasing an additional 235,000 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of CARGO Therapeutics by 1.8% in the 3rd 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. Finally, Wellington Management Group LLP increased its holdings in shares of CARGO Therapeutics by 4.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,042,723 shares of the company's stock valued at $37,688,000 after acquiring an additional 79,782 shares during the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

CARGO Therapeutics Stock Down 1.8 %

NASDAQ:CRGX traded down $0.32 on Thursday, reaching $17.11. 201,299 shares of the company's stock were exchanged, compared to its average volume of 254,936. The firm has a market capitalization of $787.57 million and a price-to-earnings ratio of -4.02. The business has a fifty day moving average of $19.23 and a 200-day moving average of $18.30. CARGO Therapeutics has a 52-week low of $13.56 and a 52-week high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, topping analysts' consensus estimates of ($1.14) by $0.26. As a group, equities analysts anticipate that CARGO Therapeutics will post -3.73 earnings per share for the current year.

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.