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

CARGO Therapeutics, Inc. (NASDAQ:CRGX) CEO Gina Chapman sold 2,975 shares of CARGO Therapeutics stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.03, for a total value of $74,464.25. Following the completion of the sale, the chief executive officer now 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 this link.

CARGO Therapeutics Trading Down 4.6 %

NASDAQ CRGX opened at $23.85 on Monday. CARGO Therapeutics, Inc. has a 52 week low of $13.14 and a 52 week high of $33.92. The company has a 50 day moving average price of $18.09 and a 200 day moving average price of $19.43.

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

Analyst Ratings Changes

A number of research analysts have commented on CRGX shares. HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of CARGO Therapeutics in a research report 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 on the stock in a 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 target price for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, CARGO Therapeutics has an average rating of “Buy” and an average target price of $30.33.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. RTW Investments LP purchased a new stake in CARGO Therapeutics in the fourth quarter valued at about $119,821,000. Perceptive Advisors LLC acquired a new position in shares of CARGO Therapeutics during the fourth quarter valued at about $79,557,000. Wellington Management Group LLP purchased a new position in shares of CARGO Therapeutics in the 4th quarter valued at approximately $39,009,000. Yu Fan acquired a new stake in CARGO Therapeutics in the 2nd quarter worth approximately $14,975,000. Finally, Price T Rowe Associates Inc. MD grew its position in 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 purchasing an additional 854,840 shares during the last quarter. 93.16% of the stock is 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.