Cartesian Therapeutics (NASDAQ:RNAC) CFO Sells $72,230.62 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 10,591 shares of the company’s 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 represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cartesian Therapeutics Trading Up 4.3%

Cartesian Therapeutics stock traded up $0.33 during trading on Thursday, hitting $8.09. The company had a trading volume of 192,449 shares, compared to its average volume of 168,686. The stock has a market cap of $210.44 million, a price-to-earnings ratio of -5.19 and a beta of 0.38. Cartesian Therapeutics, Inc. has a 1-year low of $5.98 and a 1-year high of $20.12. The company’s 50 day simple moving average is $7.38 and its 200-day simple moving average is $9.59.

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

Analyst Ratings Changes

A number of analysts have issued reports on RNAC shares. BTIG Research boosted their price target on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. HC Wainwright reduced their target price on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Wall Street Zen cut shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. 683 Capital Management LLC grew its stake in shares of Cartesian Therapeutics by 46.0% during the second quarter. 683 Capital Management LLC now owns 219,000 shares of the company’s stock worth $2,275,000 after purchasing an additional 69,000 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Cartesian Therapeutics by 106.9% during the 3rd quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock worth $880,000 after acquiring an additional 44,493 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Cartesian Therapeutics by 114.0% during the 2nd quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock worth $859,000 after acquiring an additional 44,025 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Cartesian Therapeutics in the 3rd quarter valued at about $259,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Cartesian Therapeutics during the 3rd quarter worth about $256,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.