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

William Blair assumed coverage on shares of CARGO Therapeutics (NASDAQ:CRGX - Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating on the stock.

A number of other research firms also recently weighed in on CRGX. Piper Sandler cut their price target on shares of CARGO Therapeutics from $37.00 to $34.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 13th. HC Wainwright restated a "buy" rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a report on Friday, November 15th. Finally, Chardan Capital reiterated a "buy" rating and set a $28.00 target price on shares of CARGO Therapeutics in a report on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $30.33.

CARGO Therapeutics Stock Up 5.7 %

Shares of CRGX traded up $0.93 during mid-day trading on Tuesday, reaching $17.35. 77,130 shares of the company's stock were exchanged, compared to its average volume of 256,458. CARGO Therapeutics has a 52-week low of $13.56 and a 52-week high of $33.92. The company has a market cap of $798.62 million and a price-to-earnings ratio of -3.85. The company has a 50-day simple moving average of $19.86 and a two-hundred day simple moving average of $18.41.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last released its quarterly 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, equities research analysts predict that CARGO Therapeutics will post -3.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 directly owns 6,446 shares in the company, valued at approximately $162,954.88. This trade represents a 19.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 sale, the chief executive officer now directly owns 103,905 shares of the company's stock, valued at approximately $2,600,742.15. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. 1.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On CARGO Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Yu Fan acquired a new stake in shares of CARGO Therapeutics in the 2nd quarter worth about $14,975,000. Price T Rowe Associates Inc. MD grew its position in CARGO Therapeutics by 38.2% in the 1st 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 last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 716,868 shares during the period. Geode Capital Management LLC raised its holdings in shares of CARGO Therapeutics by 80.6% during the third quarter. Geode Capital Management LLC now owns 838,279 shares of the company's stock valued at $15,469,000 after buying an additional 374,018 shares during the last quarter. Finally, Cowen AND Company LLC boosted its position in shares of CARGO Therapeutics by 121.7% during the second quarter. Cowen AND Company LLC now owns 554,305 shares of the company's stock worth $9,102,000 after buying an additional 304,305 shares during the period. 93.16% of the stock is currently owned by institutional investors and hedge funds.

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.