Blaine Davis Sells 4,028 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 4,028 shares of the stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at approximately $1,595,669.13. This represents a 4.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction of $66,227.92.

Cartesian Therapeutics Trading Down 2.7 %

Shares of NASDAQ RNAC opened at $17.16 on Wednesday. The firm has a market cap of $436.12 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 $19.32 and a two-hundred day simple moving average of $18.19. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $41.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RNAC. BNP Paribas Financial Markets lifted its holdings in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Cartesian Therapeutics in the second quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at approximately $49,000. JPMorgan Chase & Co. boosted its holdings in Cartesian Therapeutics by 0.9% in the 3rd 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 during the period. Finally, 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. Institutional investors own 86.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on RNAC shares. BTIG Research started coverage on shares of Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 target price on the stock. HC Wainwright reiterated 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. 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. Finally, Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Cartesian Therapeutics has an average rating of “Moderate Buy” and an average 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.