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 business’s stock in a transaction dated Friday, January 3rd. The stock was 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. This represents a 3.85 % decrease in their position. The sale 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 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 value of $67,791.24.

Cartesian Therapeutics Price Performance

Shares of NASDAQ RNAC traded down $0.47 during mid-day trading on Tuesday, hitting $17.16. The company had a trading volume of 105,686 shares, compared to its average volume of 132,021. Cartesian Therapeutics, Inc. has a 12 month low of $11.66 and a 12 month high of $41.87. The firm has a market cap of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56. The business’s 50-day simple moving average is $19.32 and its 200-day simple moving average is $18.19.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds have recently modified their holdings of RNAC. FMR LLC increased its position in shares of Cartesian Therapeutics by 458.3% during the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after purchasing an additional 2,341,054 shares during the period. JPMorgan Chase & Co. boosted its stake in Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after buying an additional 2,688 shares in the last quarter. Great Point Partners LLC bought a new stake in Cartesian Therapeutics in the 3rd quarter valued at $3,224,000. State Street Corp raised its stake in shares of 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, Geode Capital Management LLC lifted its holdings in shares of Cartesian Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after acquiring an additional 2,737 shares during the period. Institutional investors own 86.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 price objective (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Cartesian Therapeutics has an average rating of “Moderate Buy” and an average price target 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.