Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Sells $66,227.92 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 3,961 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $66,227.92. Following the transaction, the chief financial officer now directly owns 98,839 shares in the company, valued at approximately $1,652,588.08. This represents a 3.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, January 6th, Blaine Davis sold 4,028 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.83, for a total value of $67,791.24.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $16.92 on Friday. The firm has a 50-day simple moving average of $19.08 and a 200-day simple moving average of $18.13. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $41.87. The firm has a market cap of $430.02 million, a P/E ratio of -0.32 and a beta of 0.56.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after acquiring an additional 909 shares during the period. Point72 DIFC Ltd purchased a new position in Cartesian Therapeutics in the second quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics in the second quarter worth about $49,000. Barclays PLC lifted its position in shares of Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $351,000. Institutional investors own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

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

About Cartesian Therapeutics

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.