FY2024 Earnings Forecast for CRGX Issued By William Blair

CARGO Therapeutics, Inc. (NASDAQ:CRGX) – Equities researchers at William Blair issued their FY2024 earnings estimates for shares of CARGO Therapeutics in a research report issued on Tuesday, November 26th. William Blair analyst S. Corwin expects that the company will earn ($3.74) per share for the year. William Blair has a “Outperform” rating on the stock. The consensus estimate for CARGO Therapeutics’ current full-year earnings is ($3.73) per share. William Blair also issued estimates for CARGO Therapeutics’ Q4 2024 earnings at ($0.97) EPS, FY2025 earnings at ($3.57) EPS, FY2026 earnings at ($3.34) EPS and FY2027 earnings at ($1.39) EPS.

CARGO Therapeutics (NASDAQ:CRGX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.26.

Several other research analysts also recently weighed in on CRGX. HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of CARGO Therapeutics in a research note on Friday, November 15th. Chardan Capital reissued a “buy” rating and issued a $28.00 price objective on shares of CARGO Therapeutics in a research report on Wednesday, November 13th. Finally, Piper Sandler lowered 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, CARGO Therapeutics has an average rating of “Buy” and an average price target of $30.33.

CARGO Therapeutics Stock Up 2.6 %

NASDAQ CRGX opened at $17.67 on Thursday. CARGO Therapeutics has a fifty-two week low of $13.56 and a fifty-two week high of $33.92. The business has a 50 day moving average price of $19.46 and a two-hundred day moving average price of $18.39. The stock has a market cap of $813.35 million and a PE ratio of -4.15.

Insider Transactions at CARGO Therapeutics

In related news, CEO Gina Chapman sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.03, for a total transaction of $74,464.25. Following the sale, the chief executive officer now directly owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. This represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $40,448.00. Following the transaction, the chief financial officer now owns 6,446 shares in the company, valued at $162,954.88. This trade represents a 19.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.38% of the company’s stock.

Institutional Trading of CARGO Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in shares of CARGO Therapeutics by 1.1% in the 3rd quarter. FMR LLC now owns 6,954,476 shares of the company’s stock valued at $128,310,000 after buying an additional 77,508 shares during the period. RTW Investments LP lifted its holdings in CARGO Therapeutics by 0.5% in the third quarter. RTW Investments LP now owns 4,098,955 shares of the company’s stock worth $75,626,000 after acquiring an additional 20,833 shares during the last quarter. Perceptive Advisors LLC boosted its stake in CARGO Therapeutics by 6.8% in the second quarter. Perceptive Advisors LLC now owns 3,683,004 shares of the company’s stock valued at $60,475,000 after acquiring an additional 235,000 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of CARGO Therapeutics by 38.2% during the first 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 last quarter. Finally, Janus Henderson Group PLC raised its position in shares of CARGO Therapeutics by 1.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,675,285 shares of the company’s stock worth $49,335,000 after purchasing an additional 46,659 shares during the period. 93.16% of the stock is owned by institutional investors and hedge funds.

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.