Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Sells $67,791.24 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 4,028 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $67,791.24. Following the transaction, the chief financial officer now owns 94,811 shares of the company’s stock, valued at approximately $1,595,669.13. This trade represents a 4.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Blaine Davis also recently made the following trade(s):

• On Friday, January 3rd, Blaine Davis sold 3,961 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.72, for a total value of $66,227.92.

Cartesian Therapeutics Trading Down 2.7 %

RNAC stock traded down $0.47 during mid-day trading on Tuesday, reaching $17.16. The company’s stock had a trading volume of 105,686 shares, compared to its average volume of 132,021. The stock has a market cap of $436.12 million, a PE ratio of -0.32 and a beta of 0.56. The company’s 50 day moving average is $19.32 and its two-hundred day moving average is $18.19. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $41.87.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Logos Global Management LP acquired a new position in Cartesian Therapeutics during the second quarter worth $2,431,000. FMR LLC boosted its position in shares of Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after acquiring an additional 2,341,054 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at about $811,000. BNP Paribas Financial Markets grew its holdings in shares of Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares during the period. Finally, State Street Corp increased its position in Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after purchasing an additional 3,830 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

RNAC has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. BTIG Research began coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 target price (up previously from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.