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

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CFO Anup Radhakrishnan sold 1,600 shares of the stock in a transaction dated 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 directly owns 6,446 shares in the company, valued at approximately $162,954.88. The transaction was disclosed in a filing with the SEC, which is available at this link.

CARGO Therapeutics Trading Down 4.6 %

Shares of CRGX stock opened at $23.85 on Friday. CARGO Therapeutics, Inc. has a 12 month low of $13.14 and a 12 month high of $33.92. The firm has a fifty day moving average price of $18.09 and a 200 day moving average price of $19.53.

CARGO Therapeutics (NASDAQ:CRGX) last released its quarterly earnings data on Monday, August 12th. The company reported ($1.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.04. On average, sell-side analysts expect that CARGO Therapeutics, Inc. will post -4.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Chardan Capital began coverage on shares of CARGO Therapeutics in a research note on Monday, July 8th. They set a “buy” rating and a $28.00 price target on the stock. 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, Piper Sandler decreased their price target 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. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $30.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. purchased a new stake in CARGO Therapeutics during the 1st quarter valued at approximately $48,000. American International Group Inc. purchased a new stake in shares of CARGO Therapeutics during the first quarter worth approximately $237,000. BNP Paribas Financial Markets acquired a new stake in shares of CARGO Therapeutics during the first quarter worth $238,000. California State Teachers Retirement System purchased a new position in CARGO Therapeutics in the 1st quarter valued at $337,000. Finally, Rhumbline Advisers increased its stake in CARGO Therapeutics by 14.0% in the 2nd quarter. Rhumbline Advisers now owns 30,639 shares of the company’s stock valued at $503,000 after buying an additional 3,765 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.