Timothy A. Springer Purchases 80,301 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Director Timothy A. Springer acquired 80,301 shares of the company’s stock in a transaction on Friday, October 4th. The stock was acquired at an average cost of $22.58 per share, for a total transaction of $1,813,196.58. Following the completion of the purchase, the director now directly owns 8,023,766 shares of the company’s stock, valued at approximately $181,176,636.28. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cartesian Therapeutics Stock Performance

NASDAQ RNAC opened at $24.52 on Friday. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $42.60. The company has a 50-day simple moving average of $15.28 and a 200 day simple moving average of $19.77.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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, analysts anticipate that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RNAC shares. TD Cowen started coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating on the stock. Canaccord Genuity Group raised their price objective on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Oppenheimer lowered shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Needham & Company LLC lowered their target price on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a report on Friday, September 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Institutional Trading of Cartesian Therapeutics

A number of large investors have recently added to or reduced their stakes in RNAC. Artal Group S.A. purchased a new stake in Cartesian Therapeutics during the first quarter worth about $5,939,000. Vanguard Group Inc. purchased a new stake in Cartesian Therapeutics during the first quarter worth about $4,105,000. Delphi Financial Group Inc. bought a new position in Cartesian Therapeutics during the first quarter worth about $430,000. Logos Global Management LP bought a new position in Cartesian Therapeutics during the second quarter worth about $2,431,000. Finally, BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics during the first quarter worth about $38,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.