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 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 sale, the chief financial officer now directly 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 sale 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 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 Trading Down 1.4 %

Shares of NASDAQ RNAC opened at $16.92 on Thursday. The stock’s 50-day moving average is $19.13 and its 200 day moving average is $18.14. The stock has a market cap of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $41.87.

Wall Street Analysts Forecast Growth

RNAC has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. BTIG Research assumed coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. 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, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $42.86.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Logos Global Management LP purchased a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at $2,431,000. Marshall Wace LLP purchased a new stake in Cartesian Therapeutics during the second quarter valued at about $811,000. Point72 DIFC Ltd bought a new position in shares of Cartesian Therapeutics during the second quarter valued at about $47,000. Cubist Systematic Strategies LLC purchased a new position in shares of Cartesian Therapeutics in the second quarter worth about $351,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $49,000. 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.