Blaine Davis Sells 3,961 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 3,961 shares of the 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 firm has a market cap of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. The stock has a fifty day simple moving average of $19.13 and a two-hundred day simple moving average of $18.14. 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 topic of several 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 report on Wednesday, December 4th. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. BTIG Research began coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.86.

Institutional Investors Weigh In On Cartesian Therapeutics

Several large investors have recently added to or reduced their stakes in RNAC. JPMorgan Chase & Co. lifted its holdings in Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock valued at $4,981,000 after purchasing an additional 2,688 shares during the last quarter. Barclays PLC lifted its stake in shares of 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 buying an additional 7,849 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cartesian Therapeutics by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after buying an additional 2,737 shares during the period. State Street Corp grew its stake in Cartesian Therapeutics by 2.5% in 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 in the last quarter. Finally, Great Point Partners LLC bought a new stake in Cartesian Therapeutics during the 3rd quarter valued at $3,224,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.