Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Sells $67,791.24 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 4,028 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 94,811 shares in the company, valued at $1,595,669.13. This represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 value of $66,227.92.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ:RNAC opened at $16.92 on Friday. The company’s fifty day moving average is $19.08 and its 200-day moving average is $18.13. Cartesian Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $41.87. The company has a market capitalization of $430.02 million, a PE ratio of -0.32 and a beta of 0.56.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. BNP Paribas Financial Markets increased its holdings in shares of Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after buying an additional 909 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Cartesian Therapeutics during the 2nd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics in the 2nd quarter valued at $49,000. JPMorgan Chase & Co. boosted its stake in Cartesian Therapeutics by 0.9% in the third 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of 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. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on RNAC. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. 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. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, BTIG Research assumed coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.