Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Director Timothy A. Springer Acquires 5,514 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Director Timothy A. Springer purchased 5,514 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the purchase, the director now directly owns 7,823,559 shares of the company’s stock, valued at approximately $135,973,455.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cartesian Therapeutics Stock Up 7.4 %

RNAC opened at $24.52 on Friday. Cartesian Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $42.60. The business’s 50 day moving average is $15.28 and its two-hundred day moving average is $19.77.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $1.35. The business had revenue of $33.45 million for the quarter, compared to analysts’ expectations of $6.00 million. Sell-side analysts forecast that Cartesian Therapeutics, Inc. will post 3.99 EPS for the current year.

Institutional Trading of Cartesian Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in shares of Cartesian Therapeutics in the second quarter valued at approximately $47,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Cartesian Therapeutics in the second quarter valued at approximately $351,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cartesian Therapeutics during the second quarter worth $49,000. Logos Global Management LP acquired a new position in shares of Cartesian Therapeutics during the 2nd quarter worth $2,431,000. Finally, Marshall Wace LLP purchased a new stake in Cartesian Therapeutics during the second quarter worth about $811,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RNAC has been the subject of several recent research reports. TD Cowen began coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They issued a “buy” rating for the company. Oppenheimer downgraded Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Canaccord Genuity Group boosted their price objective on Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. HC Wainwright reiterated a “buy” rating and set a $45.00 price target on shares of Cartesian Therapeutics in a report on Friday, September 13th. Finally, Needham & Company LLC dropped their price objective on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $43.00.

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.