CARGO Therapeutics, Inc. to Post Q2 2024 Earnings of ($0.94) Per Share, HC Wainwright Forecasts (NASDAQ:CRGX)

CARGO Therapeutics, Inc. (NASDAQ:CRGX) – Investment analysts at HC Wainwright issued their Q2 2024 earnings estimates for CARGO Therapeutics in a research report issued on Monday, July 22nd. HC Wainwright analyst R. Burns expects that the company will post earnings per share of ($0.94) for the quarter. HC Wainwright currently has a “Buy” rating and a $33.00 target price on the stock. The consensus estimate for CARGO Therapeutics’ current full-year earnings is ($4.59) per share. HC Wainwright also issued estimates for CARGO Therapeutics’ Q3 2024 earnings at ($0.91) EPS, Q4 2024 earnings at ($0.97) EPS, Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($1.04) EPS, Q3 2025 earnings at ($1.05) EPS, Q4 2025 earnings at ($0.99) EPS and FY2025 earnings at ($4.08) EPS.

CARGO Therapeutics (NASDAQ:CRGX) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.18.

Several other equities analysts have also weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $32.00 target price (down from $34.00) on shares of CARGO Therapeutics in a report on Thursday, May 16th. Chardan Capital began coverage on shares of CARGO Therapeutics in a research note on Monday, July 8th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Piper Sandler began coverage on shares of CARGO Therapeutics in a research note on Thursday, June 27th. They set an “overweight” rating and a $37.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $30.83.

CARGO Therapeutics Stock Performance

CRGX opened at $17.70 on Wednesday. CARGO Therapeutics has a twelve month low of $13.14 and a twelve month high of $33.92. The firm’s 50-day moving average price is $17.37 and its 200 day moving average price is $20.72.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRGX. Franklin Resources Inc. purchased a new position in CARGO Therapeutics during the 4th quarter worth $13,333,000. RTW Investments LP acquired a new stake in shares of CARGO Therapeutics during the 4th quarter worth about $119,821,000. Perceptive Advisors LLC acquired a new stake in shares of CARGO Therapeutics in the fourth quarter worth approximately $79,557,000. Wellington Management Group LLP acquired a new stake in shares of CARGO Therapeutics in the fourth quarter worth approximately $39,009,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of CARGO Therapeutics in the first quarter worth approximately $238,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Samsara Biocapital Gp, Llc bought 294,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $4,998,000.00. Following the acquisition, the insider now owns 4,415,689 shares in the company, valued at approximately $75,066,713. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.38% of the stock is currently owned by company insiders.

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.