Cartesian Therapeutics (NASDAQ:RNAC) Rating Increased to Hold at Cantor Fitzgerald

Cartesian Therapeutics (NASDAQ:RNAC) was upgraded by analysts at Cantor Fitzgerald to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on RNAC. TD Cowen began coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Monday, November 25th. Finally, HC Wainwright decreased their price objective on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.33.

Cartesian Therapeutics Stock Up 3.9 %

Shares of RNAC stock opened at $19.57 on Monday. The business’s fifty day moving average is $19.80 and its 200 day moving average is $19.77. The stock has a market cap of $497.47 million, a price-to-earnings ratio of -0.37 and a beta of 0.60. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $41.87.

Insider Activity

In other news, Director Timothy A. Springer bought 5,514 shares of Cartesian Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average price of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the acquisition, the director now owns 7,823,559 shares of the company’s stock, valued at $135,973,455.42. The trade was a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Metin Kurtoglu sold 32,789 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $16.67, for a total value of $546,592.63. Following the completion of the transaction, the chief technology officer now directly owns 51,033 shares in the company, valued at $850,720.11. This trade represents a 39.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 128,089 shares of company stock valued at $2,169,555. Insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new stake in Cartesian Therapeutics in the 1st quarter valued at about $4,105,000. Logos Global Management LP bought a new stake in shares of Cartesian Therapeutics during the second quarter valued at approximately $2,431,000. Marshall Wace LLP acquired a new position in shares of Cartesian Therapeutics during the second quarter worth approximately $811,000. Point72 DIFC Ltd bought a new position in Cartesian Therapeutics in the 2nd quarter worth approximately $47,000. Finally, Great Point Partners LLC acquired a new stake in Cartesian Therapeutics in the 3rd quarter valued at approximately $3,224,000. 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.