Cartesian Therapeutics (NASDAQ:RNAC) Upgraded by Cantor Fitzgerald to Hold Rating

Cantor Fitzgerald upgraded shares of Cartesian Therapeutics (NASDAQ:RNAC) to a hold rating in a research report report published on Monday morning,Zacks.com reports.

RNAC has been the subject of a number of other reports. HC Wainwright reduced their price objective on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, November 8th. TD Cowen initiated coverage on shares of Cartesian Therapeutics in a report on Tuesday, August 6th. They set a “buy” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Monday, November 25th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Cartesian Therapeutics Stock Up 3.9 %

Cartesian Therapeutics stock traded up $0.74 during trading on Monday, hitting $19.57. The stock had a trading volume of 176,215 shares, compared to its average volume of 116,453. The stock’s 50 day moving average is $19.80 and its two-hundred day moving average is $19.77. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $41.87. The stock has a market cap of $497.47 million, a price-to-earnings ratio of -0.37 and a beta of 0.60.

Insiders Place Their Bets

In other Cartesian Therapeutics news, insider Milos Miljkovic sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.13, for a total transaction of $564,550.00. Following the completion of the sale, the insider now directly owns 18,273 shares in the company, valued at approximately $294,743.49. This trade represents a 65.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy A. Springer acquired 5,514 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the transaction, the director now directly owns 7,823,559 shares in the company, valued at $135,973,455.42. This represents a 0.07 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 128,089 shares of company stock worth $2,169,555 over the last three months. Company insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. bought a new position in Cartesian Therapeutics during the first quarter valued at approximately $4,105,000. FMR LLC increased its position in Cartesian Therapeutics by 458.3% in the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after purchasing an additional 2,341,054 shares during the last quarter. Great Point Partners LLC purchased a new stake in Cartesian Therapeutics during the third quarter valued at $3,224,000. State Street Corp lifted its position in Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after purchasing an additional 3,830 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.