Blaine Davis Sells 4,028 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 4,028 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $67,791.24. Following the completion of the sale, the chief financial officer now owns 94,811 shares of the company’s stock, valued at approximately $1,595,669.13. This trade represents a 4.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, January 3rd, Blaine Davis sold 3,961 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.72, for a total value of $66,227.92.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $16.92 on Thursday. The company has a market capitalization of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $41.87. The stock has a 50-day simple moving average of $19.13 and a 200 day simple moving average of $18.14.

Wall Street Analysts Forecast Growth

RNAC has been the topic of a number of recent research reports. BTIG Research initiated 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. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.86.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Logos Global Management LP acquired a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at approximately $2,431,000. FMR LLC raised its holdings in shares of Cartesian Therapeutics by 458.3% during the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after purchasing an additional 2,341,054 shares during the period. Marshall Wace LLP acquired a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at about $811,000. BNP Paribas Financial Markets boosted 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 buying an additional 909 shares during the period. Finally, State Street Corp grew its position 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 buying an additional 3,830 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.