HC Wainwright reissued their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC – Free Report) in a research note issued to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $45.00 price target on the stock, up from their previous price target of $41.00.
A number of other equities research analysts have also issued reports on RNAC. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Tuesday. TD Cowen assumed coverage on shares of Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.
View Our Latest Report on RNAC
Cartesian Therapeutics Stock Performance
Insider Transactions at Cartesian Therapeutics
In other Cartesian Therapeutics news, Director Timothy A. Springer purchased 5,514 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average cost of $17.38 per share, with a total value of $95,833.32. Following the transaction, the director now directly owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. The trade was a 0.07 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $16.67, for a total transaction of $546,592.63. Following the transaction, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at approximately $850,720.11. This trade represents a 39.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,089 shares of company stock valued at $2,169,555. Company insiders own 57.90% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Barclays PLC lifted its position in 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 acquiring an additional 7,849 shares during the period. Geode Capital Management LLC lifted its position in Cartesian Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after acquiring an additional 2,737 shares during the period. State Street Corp lifted its position in Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after acquiring an additional 3,830 shares during the period. Great Point Partners LLC bought a new stake in Cartesian Therapeutics during the 3rd quarter valued at about $3,224,000. Finally, BNP Paribas Financial Markets increased 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 valued at $27,000 after purchasing an additional 909 shares in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.
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.
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