Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Shares Sold by Ikarian Capital LLC

Ikarian Capital LLC lowered its holdings in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 78.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,193 shares of the company’s stock after selling 190,177 shares during the period. Ikarian Capital LLC owned 0.21% of Cartesian Therapeutics worth $841,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Great Point Partners LLC acquired a new stake in Cartesian Therapeutics during the 3rd quarter worth $3,224,000. BNP Paribas Financial Markets boosted its stake in Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after purchasing an additional 909 shares during the period. FMR LLC raised its position in Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after buying an additional 2,341,054 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Cartesian Therapeutics during the 2nd quarter worth $47,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Cartesian Therapeutics during the 2nd quarter worth $351,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Trading Up 3.9 %

Shares of RNAC traded up $0.74 during trading hours on Tuesday, reaching $19.57. The company had a trading volume of 176,215 shares, compared to its average volume of 116,453. The firm has a 50 day simple moving average of $19.80 and a 200-day simple moving average of $19.77. The company has a market capitalization of $497.47 million, a price-to-earnings ratio of -0.37 and a beta of 0.60. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $41.87.

Insider Activity

In other Cartesian Therapeutics news, Director Timothy A. Springer bought 5,514 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the acquisition, the director now owns 7,823,559 shares of the company’s stock, valued at $135,973,455.42. The trade was a 0.07 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Milos Miljkovic sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.13, for a total transaction of $564,550.00. Following the transaction, the insider now owns 18,273 shares of the company’s stock, valued at $294,743.49. This trade represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,089 shares of company stock worth $2,169,555 in the last 90 days. 57.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on RNAC. TD Cowen began coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating for the company. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday. Finally, HC Wainwright cut their price objective on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Cartesian Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

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.