Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $42.33.

Several equities analysts recently weighed in on the company. HC Wainwright lowered their target price on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Monday, November 25th. Finally, TD Cowen assumed coverage on shares of Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating for the company.

Cartesian Therapeutics Trading Up 3.9 %

RNAC opened at $19.57 on Tuesday. The firm’s 50 day simple moving average is $19.80 and its two-hundred day simple moving average is $19.77. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $41.87.

Insider Activity at Cartesian Therapeutics

In related news, Director Timothy A. Springer purchased 5,514 shares of Cartesian Therapeutics stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the acquisition, the director now owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. The trade was a 0.07 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Metin Kurtoglu sold 25,900 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.44, for a total transaction of $425,796.00. Following the transaction, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at $838,982.52. This trade represents a 33.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,089 shares of company stock valued at $2,169,555. 57.90% of the stock is owned by company insiders.

Institutional Trading of Cartesian Therapeutics

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares in the last quarter. SG Americas Securities LLC bought a new position in Cartesian Therapeutics during the first quarter valued at $31,000. American International Group Inc. bought a new stake in shares of Cartesian Therapeutics in the 1st quarter worth about $37,000. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at about $49,000. Institutional investors own 86.95% of the company’s stock.

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.