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 firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $67,791.24. Following the transaction, the chief financial officer now directly owns 94,811 shares of the company’s stock, valued at $1,595,669.13. The trade was a 4.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 1.4 %

NASDAQ:RNAC opened at $16.92 on Thursday. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $41.87. The firm’s 50 day moving average is $19.13 and its two-hundred day moving average is $18.14. The company has a market cap of $430.02 million, a P/E ratio of -0.32 and a beta of 0.56.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after acquiring an additional 2,688 shares during the last quarter. Barclays PLC increased its position in Cartesian Therapeutics by 208.6% during 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 in the last quarter. Geode Capital Management LLC raised its holdings in Cartesian Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after buying an additional 2,737 shares during the period. 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 buying an additional 3,830 shares in the last quarter. Finally, Great Point Partners LLC purchased a new stake in Cartesian Therapeutics during the third quarter worth approximately $3,224,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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