CARGO Therapeutics (NASDAQ:CRGX) Coverage Initiated by Analysts at William Blair

William Blair assumed coverage on shares of CARGO Therapeutics (NASDAQ:CRGX) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating on the stock. William Blair also issued estimates for CARGO Therapeutics’ Q4 2024 earnings at ($0.97) EPS, FY2024 earnings at ($3.74) EPS, FY2025 earnings at ($3.57) EPS, FY2026 earnings at ($3.34) EPS and FY2027 earnings at ($1.39) EPS.

Other equities analysts also recently issued reports about the company. Piper Sandler decreased their target price on 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 restated a “buy” rating and set a $28.00 price objective on shares of CARGO Therapeutics in a research note on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a research note on Friday, November 15th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, CARGO Therapeutics has a consensus rating of “Buy” and an average price target of $30.33.

CARGO Therapeutics Stock Up 2.9 %

NASDAQ:CRGX opened at $18.18 on Tuesday. The company has a market cap of $836.83 million and a PE ratio of -4.27. The business’s 50 day moving average is $19.35 and its two-hundred day moving average is $18.38. CARGO Therapeutics has a 52 week low of $13.56 and a 52 week high of $33.92.

CARGO Therapeutics (NASDAQ:CRGX) last released its earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.26. As a group, sell-side analysts expect that CARGO Therapeutics will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling

In other CARGO Therapeutics news, CEO Gina Chapman sold 2,975 shares of the business’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 sale, the chief executive officer now directly owns 103,905 shares in the company, valued at approximately $2,600,742.15. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anup Radhakrishnan sold 1,600 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $25.28, for a total value 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 represents a 19.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.38% of the company’s stock.

Hedge Funds Weigh In On CARGO Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in CARGO Therapeutics by 1.1% during the third quarter. FMR LLC now owns 6,954,476 shares of the company’s stock worth $128,310,000 after acquiring an additional 77,508 shares during the period. RTW Investments LP lifted its stake in CARGO Therapeutics by 0.5% during the third quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock worth $75,626,000 after purchasing an additional 20,833 shares during the period. Perceptive Advisors LLC boosted its holdings in CARGO Therapeutics by 6.8% during the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock valued at $60,475,000 after purchasing an additional 235,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of CARGO Therapeutics by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,093,347 shares of the company’s stock valued at $69,044,000 after purchasing an additional 854,840 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of CARGO Therapeutics by 1.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock worth $49,335,000 after buying an additional 46,659 shares in 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.