CARGO Therapeutics, Inc. (NASDAQ:CRGX) CEO Gina Chapman Sells 2,975 Shares of Stock

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CEO Gina Chapman sold 2,975 shares of CARGO Therapeutics stock in a transaction 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 directly owns 103,905 shares of the company’s stock, valued at $2,600,742.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

CARGO Therapeutics Price Performance

Shares of CARGO Therapeutics stock opened at $23.85 on Friday. CARGO Therapeutics, Inc. has a 52-week low of $13.14 and a 52-week high of $33.92. The firm has a 50-day moving average of $18.09 and a 200-day moving average of $19.53.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on CRGX shares. HC Wainwright restated a “buy” rating and set a $33.00 target price on shares of CARGO Therapeutics in a research note on Tuesday, August 13th. Piper Sandler cut their price objective on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Finally, Chardan Capital began coverage on CARGO Therapeutics in a report on Monday, July 8th. They set a “buy” rating and a $28.00 price objective for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, CARGO Therapeutics presently has a consensus rating of “Buy” and an average target price of $30.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in shares of CARGO Therapeutics in the 1st quarter valued at $48,000. American International Group Inc. acquired a new position in CARGO Therapeutics during the first quarter worth about $237,000. BNP Paribas Financial Markets bought a new position in shares of CARGO Therapeutics in the first quarter worth about $238,000. California State Teachers Retirement System acquired a new stake in shares of CARGO Therapeutics in the 1st quarter valued at approximately $337,000. Finally, Swiss National Bank acquired a new position in shares of CARGO Therapeutics during the first quarter worth $636,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

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.