FY2024 Earnings Estimate for CRGX Issued By William Blair

CARGO Therapeutics, Inc. (NASDAQ:CRGX - Free Report) - Analysts at William Blair issued their FY2024 earnings estimates for CARGO Therapeutics in a research note issued on Tuesday, November 26th. William Blair analyst S. Corwin anticipates that the company will post earnings per share of ($3.74) for the year. William Blair has a "Outperform" rating on the stock. The consensus estimate for CARGO Therapeutics' current full-year earnings is ($3.73) per share. William Blair also issued estimates for CARGO Therapeutics' Q4 2024 earnings at ($0.97) EPS, FY2025 earnings at ($3.57) EPS, FY2026 earnings at ($3.34) EPS and FY2027 earnings at ($1.39) EPS.

CARGO Therapeutics (NASDAQ:CRGX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, topping analysts' consensus estimates of ($1.14) by $0.26.

CRGX has been the topic of several other reports. Chardan Capital reissued a "buy" rating and issued a $28.00 price objective on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. Piper Sandler lowered their price target on shares of CARGO Therapeutics from $37.00 to $34.00 and set an "overweight" rating on the stock in a report on Tuesday, August 13th. Finally, HC Wainwright restated a "buy" rating and set a $33.00 price objective on shares of CARGO Therapeutics in a report on Friday, November 15th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $30.33.

CARGO Therapeutics Stock Up 2.6 %

Shares of CRGX stock traded up $0.44 during trading on Thursday, reaching $17.67. 111,986 shares of the company's stock were exchanged, compared to its average volume of 256,326. The firm's fifty day moving average price is $19.61 and its 200-day moving average price is $18.39. CARGO Therapeutics has a twelve month low of $13.56 and a twelve month high of $33.92. The stock has a market capitalization of $813.35 million and a PE ratio of -4.15.

Institutional Trading of CARGO Therapeutics

Several large investors have recently made changes to their positions in CRGX. Vanguard Group Inc. lifted its stake in CARGO Therapeutics by 179.5% during the first quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company's stock worth $24,916,000 after purchasing an additional 716,868 shares during the last quarter. American International Group Inc. bought a new position in CARGO Therapeutics in the first quarter valued at about $237,000. Price T Rowe Associates Inc. MD raised its stake in CARGO Therapeutics by 38.2% during 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 acquiring an additional 854,840 shares in the last quarter. California State Teachers Retirement System bought a new position in shares of CARGO Therapeutics in the first quarter worth about $337,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $1,136,000 after purchasing an additional 7,146 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

Insiders Place Their Bets

In related news, CFO Anup Radhakrishnan sold 1,600 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now owns 6,446 shares in the company, valued at approximately $162,954.88. This trade represents a 19.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $74,464.25. Following the completion of the transaction, the chief executive officer now directly owns 103,905 shares of the company's stock, valued at approximately $2,600,742.15. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.38% 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.