Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Sells 4,028 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 4,028 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $67,791.24. Following the completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Blaine Davis also recently made the following trade(s):

• On Friday, January 3rd, Blaine Davis sold 3,961 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.72, for a total value of $66,227.92.

Cartesian Therapeutics Stock Down 2.7 %

RNAC traded down $0.47 during mid-day trading on Tuesday, reaching $17.16. 105,686 shares of the company traded hands, compared to its average volume of 132,021. The stock has a market capitalization of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $41.87. The company’s fifty day moving average price is $19.32 and its 200-day moving average price is $18.19.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RNAC. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. BTIG Research initiated coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective (up from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RNAC. BNP Paribas Financial Markets grew its stake 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 acquiring an additional 909 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Cartesian Therapeutics in the 2nd quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics during the second quarter valued at $49,000. Barclays PLC raised its position in Cartesian Therapeutics by 208.6% in the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after purchasing an additional 7,849 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Cartesian Therapeutics during the 2nd quarter valued at $351,000. 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.