Insider Selling: CARGO Therapeutics, Inc. (NASDAQ:CRGX) CFO Sells 1,600 Shares of Stock

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CFO Anup Radhakrishnan sold 1,600 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total transaction of $40,448.00. Following the sale, the chief financial officer now directly owns 6,446 shares in the company, valued at approximately $162,954.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CARGO Therapeutics Trading Down 4.6 %

Shares of NASDAQ:CRGX opened at $23.85 on Monday. The firm’s fifty day moving average is $18.09 and its 200-day moving average is $19.43. CARGO Therapeutics, Inc. has a 52 week low of $13.14 and a 52 week high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last issued its quarterly earnings results on Monday, August 12th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.04. As a group, equities analysts expect that CARGO Therapeutics, Inc. will post -4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on CRGX shares. Piper Sandler decreased their target price 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 reaffirmed a “buy” rating and set a $33.00 target price on shares of CARGO Therapeutics in a research note on Tuesday, August 13th. Finally, Chardan Capital started coverage on shares of CARGO Therapeutics in a research note on Monday, July 8th. They set a “buy” rating and a $28.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $30.33.

Hedge Funds Weigh In On CARGO Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in CARGO Therapeutics in the first quarter valued at $48,000. American International Group Inc. acquired a new position in CARGO Therapeutics in the first quarter valued at $237,000. BNP Paribas Financial Markets acquired a new position in CARGO Therapeutics in the first quarter valued at $238,000. California State Teachers Retirement System acquired a new position in CARGO Therapeutics in the first quarter valued at $337,000. Finally, Swiss National Bank acquired a new position in CARGO Therapeutics in the first quarter valued at $636,000. Institutional investors and hedge funds own 93.16% 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.