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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Director Timothy A. Springer purchased 5,514 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $17.38 per share, with a total value of $95,833.32. Following the transaction, the director now owns 7,823,559 shares in the company, valued at $135,973,455.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cartesian Therapeutics Stock Performance

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

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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. On average, equities analysts predict that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current year.

Institutional Trading of Cartesian Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new position in shares of Cartesian Therapeutics during the 2nd quarter worth $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at approximately $49,000. Cubist Systematic Strategies LLC acquired a new position in Cartesian Therapeutics in the second quarter valued at approximately $351,000. Marshall Wace LLP purchased a new position in Cartesian Therapeutics in the second quarter worth approximately $811,000. Finally, Lake Street Advisors Group LLC acquired a new stake in Cartesian Therapeutics during the second quarter worth $855,000. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on RNAC shares. TD Cowen assumed coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They set a “buy” rating for the company. Needham & Company LLC decreased their price objective on Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 9th. Oppenheimer downgraded Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of Cartesian Therapeutics in a report on Friday, September 13th. Finally, Canaccord Genuity Group raised their price objective on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and a consensus 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.