Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis Sells 3,961 Shares of 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 transaction of $66,227.92. Following the completion of the transaction, the chief financial officer now owns 98,839 shares in the company, valued at approximately $1,652,588.08. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 transaction of $67,791.24.

Cartesian Therapeutics Price Performance

Shares of NASDAQ RNAC opened at $17.16 on Wednesday. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $41.87. The business has a fifty day moving average price of $19.32 and a 200 day moving average price of $18.19. The stock has a market capitalization of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RNAC. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Finally, 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 for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Institutional Trading of Cartesian Therapeutics

Hedge funds have recently modified their holdings of the company. Logos Global Management LP bought a new position in shares of Cartesian Therapeutics during the 2nd quarter worth approximately $2,431,000. FMR LLC boosted its stake in Cartesian Therapeutics by 458.3% in the third 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 in the last quarter. Marshall Wace LLP purchased a new position in Cartesian Therapeutics in the second quarter worth $811,000. BNP Paribas Financial Markets increased its position in shares of Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after purchasing an additional 909 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after purchasing an additional 3,830 shares during the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

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.