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

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CFO Anup Radhakrishnan sold 1,600 shares of the 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 of the company’s stock, valued at approximately $162,954.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CARGO Therapeutics Stock Performance

CRGX stock opened at $23.85 on Friday. CARGO Therapeutics, Inc. has a twelve month low of $13.14 and a twelve month high of $33.92. The business has a 50 day moving average price of $18.09 and a two-hundred day moving average price of $19.48.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.04. Equities research analysts forecast that CARGO Therapeutics, Inc. will post -4.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRGX. Piper Sandler reduced their target price on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Chardan Capital began coverage on CARGO Therapeutics in a research report on Monday, July 8th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a research note on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently 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 business. RTW Investments LP acquired a new stake in shares of CARGO Therapeutics in the fourth quarter valued at approximately $119,821,000. Perceptive Advisors LLC acquired a new stake in CARGO Therapeutics during the 4th quarter valued at $79,557,000. Wellington Management Group LLP bought a new position in CARGO Therapeutics during the fourth quarter worth $39,009,000. Yu Fan acquired a new position in shares of CARGO Therapeutics in the second quarter valued at $14,975,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of CARGO Therapeutics by 38.2% during 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 buying an additional 854,840 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

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.