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 that occurred on Friday, January 3rd. The shares were 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 directly owns 98,839 shares of the company’s stock, valued at $1,652,588.08. The trade was 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 shares were sold at an average price of $16.83, for a total transaction of $67,791.24.

Cartesian Therapeutics Stock Down 2.7 %

Shares of RNAC stock opened at $17.16 on Wednesday. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $41.87. The stock has a market cap of $436.12 million, a PE ratio of -0.32 and a beta of 0.56. The business has a 50-day simple moving average of $19.32 and a 200-day simple moving average of $18.19.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Cartesian Therapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after purchasing an additional 2,688 shares during the period. Barclays PLC grew its position in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares during the period. Geode Capital Management LLC increased its holdings in Cartesian Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after buying an additional 2,737 shares in the last quarter. State Street Corp raised its position in shares of Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after acquiring an additional 3,830 shares during the period. Finally, Great Point Partners LLC acquired a new position in shares of Cartesian Therapeutics in the third quarter worth about $3,224,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.