CARGO Therapeutics (NASDAQ:CRGX) Releases Earnings Results, Beats Estimates By $0.26 EPS

CARGO Therapeutics (NASDAQ:CRGX) announced its quarterly earnings data on Tuesday. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.26, Zacks reports.

CARGO Therapeutics Stock Performance

Shares of CARGO Therapeutics stock traded down $0.86 during midday trading on Thursday, reaching $18.17. 46,518 shares of the company’s stock traded hands, compared to its average volume of 255,601. The company has a market cap of $834.00 million and a PE ratio of -4.18. The stock has a 50 day moving average of $20.69 and a 200-day moving average of $18.63. CARGO Therapeutics has a 12 month low of $13.56 and a 12 month high of $33.92.

Insider Buying and Selling at CARGO Therapeutics

In other CARGO Therapeutics news, CEO Gina Chapman sold 2,975 shares of the firm’s 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 directly owns 103,905 shares in the company, valued at $2,600,742.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Anup Radhakrishnan sold 1,600 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 6,446 shares in the company, valued at $162,954.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gina Chapman sold 2,975 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.03, for a total transaction of $74,464.25. Following the completion of the transaction, the chief executive officer now owns 103,905 shares in the company, valued at approximately $2,600,742.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CRGX shares. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of CARGO Therapeutics in a research report on Tuesday, August 13th. Piper Sandler decreased their target price on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, Chardan Capital restated a “buy” rating and set a $28.00 price target on shares of CARGO Therapeutics in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $30.33.

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.