Cartesian Therapeutics (NASDAQ:RNAC) CFO Blaine Davis Sells 10,591 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 10,591 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total transaction of $72,230.62. Following the completion of the transaction, the chief financial officer owned 121,220 shares in the company, valued at approximately $826,720.40. This trade represents a 8.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Cartesian Therapeutics Stock Performance

Shares of RNAC opened at $8.09 on Friday. The business’s 50-day moving average is $7.38 and its two-hundred day moving average is $9.58. The company has a market capitalization of $210.48 million, a P/E ratio of -5.19 and a beta of 0.38. Cartesian Therapeutics, Inc. has a fifty-two week low of $5.98 and a fifty-two week high of $20.12.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.57). The business had revenue of $0.45 million during the quarter, compared to analyst estimates of $0.18 million. Analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RNAC shares. HC Wainwright decreased their target price on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Wall Street Zen lowered shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. BTIG Research boosted their target price on Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Institutional Investors Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers boosted its position in Cartesian Therapeutics by 27.5% in the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after buying an additional 2,805 shares during the period. Miller Financial Services LLC purchased a new stake in shares of Cartesian Therapeutics during the second quarter worth approximately $121,000. Virtus Investment Advisers LLC increased its stake in shares of Cartesian Therapeutics by 12.5% during the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after buying an additional 1,023 shares during the period. Marshall Wace LLP raised its holdings in shares of Cartesian Therapeutics by 114.0% in the 2nd quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock valued at $859,000 after purchasing an additional 44,025 shares in the last quarter. Finally, 683 Capital Management LLC lifted its position in shares of Cartesian Therapeutics by 46.0% during the 2nd quarter. 683 Capital Management LLC now owns 219,000 shares of the company’s stock worth $2,275,000 after buying an additional 69,000 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.