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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 4,028 shares of Cartesian Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $67,791.24. Following the sale, the chief financial officer now owns 94,811 shares in the company, valued at approximately $1,595,669.13. This represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 transaction of $66,227.92.

Cartesian Therapeutics Stock Performance

Shares of Cartesian Therapeutics stock opened at $17.16 on Wednesday. The stock has a market capitalization of $436.12 million, a PE ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $41.87. The stock has a 50 day moving average price of $19.32 and a two-hundred day moving average price of $18.19.

Institutional Trading of Cartesian Therapeutics

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake in shares of Cartesian Therapeutics by 122.5% in the third 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 in the last quarter. Point72 DIFC Ltd bought a new position in Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cartesian Therapeutics during the 2nd quarter valued at about $49,000. Barclays PLC boosted its stake 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 purchasing an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Cartesian Therapeutics during the 2nd quarter worth approximately $351,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a report 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 note on Tuesday, December 3rd. BTIG Research assumed coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Cartesian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $42.86.

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.