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 dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $66,227.92. Following the completion of the transaction, the chief financial officer now directly owns 98,839 shares of the company’s stock, valued at approximately $1,652,588.08. This trade represents a 3.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $16.83, for a total value of $67,791.24.

Cartesian Therapeutics Stock Down 1.4 %

Cartesian Therapeutics stock opened at $16.92 on Friday. The company’s 50-day moving average price is $19.08 and its 200-day moving average price is $18.13. The company has a market cap of $430.02 million, a PE ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a twelve month low of $11.66 and a twelve month high of $41.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. JPMorgan Chase & Co. lifted its stake in shares of Cartesian Therapeutics by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock valued at $4,981,000 after purchasing an additional 2,688 shares during the last quarter. Barclays PLC raised its holdings in Cartesian Therapeutics by 208.6% during the 3rd 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 period. Geode Capital Management LLC lifted its position in Cartesian Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after buying an additional 2,737 shares during the last quarter. State Street Corp boosted its stake 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 buying an additional 3,830 shares during the period. Finally, Great Point Partners LLC bought a new position in Cartesian Therapeutics during the third quarter valued at $3,224,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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