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 on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $66,227.92. Following the sale, the chief financial officer now directly owns 98,839 shares of the company’s stock, valued at approximately $1,652,588.08. This represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 2.7 %

Shares of NASDAQ:RNAC traded down $0.47 during trading on Tuesday, reaching $17.16. 105,686 shares of the company traded hands, compared to its average volume of 132,021. The firm has a fifty day simple moving average of $19.32 and a 200 day simple moving average of $18.19. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $41.87. The firm has a market cap of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56.

Analyst Ratings Changes

Several brokerages have commented on RNAC. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price (up from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. BTIG Research began coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective for the company. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.86.

Institutional Trading of Cartesian Therapeutics

Institutional investors have recently bought and sold shares of the company. Logos Global Management LP purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter worth about $2,431,000. FMR LLC grew its stake in shares of Cartesian Therapeutics by 458.3% in the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after buying an additional 2,341,054 shares in the last quarter. Marshall Wace LLP acquired a new position in Cartesian Therapeutics in the second quarter worth approximately $811,000. BNP Paribas Financial Markets raised its position in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after acquiring an additional 909 shares in the last quarter. Finally, State Street Corp lifted its stake in Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after acquiring 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.