Timothy A. Springer Buys 8,016 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Director Timothy A. Springer bought 8,016 shares of Cartesian Therapeutics stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $12.72 per share, for a total transaction of $101,963.52. Following the completion of the acquisition, the director now owns 11,509 shares in the company, valued at $146,394.48. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Cartesian Therapeutics Price Performance

RNAC traded down $0.59 during trading hours on Wednesday, reaching $13.08. 74,369 shares of the company’s stock traded hands, compared to its average volume of 91,758. The firm has a 50-day moving average price of $20.44 and a 200 day moving average price of $21.17. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $1.35. The company had revenue of $33.45 million for the quarter, compared to analysts’ expectations of $6.00 million. As a group, sell-side analysts anticipate that Cartesian Therapeutics, Inc. will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

Several large investors have recently added to or reduced their stakes in RNAC. SG Americas Securities LLC purchased a new position in shares of Cartesian Therapeutics during the first quarter worth approximately $31,000. Hall Laurie J Trustee bought a new position in Cartesian Therapeutics in the first quarter worth approximately $34,000. American International Group Inc. purchased a new position in Cartesian Therapeutics during the 1st quarter worth $37,000. BNP Paribas Financial Markets bought a new stake in Cartesian Therapeutics during the 1st quarter valued at $38,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth $47,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RNAC has been the subject of several recent research reports. Canaccord Genuity Group lifted their price target on Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. TD Cowen started coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. Oppenheimer downgraded Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. SVB Leerink started coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. They set an “outperform” rating and a $39.00 price objective for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.