Cartesian Therapeutics, Inc. (NASDAQ:RNAC – Get Free Report) Director Timothy A. Springer acquired 5,514 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the purchase, the director now directly owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Cartesian Therapeutics Stock Performance
Shares of RNAC traded up $1.70 during trading hours on Friday, hitting $24.52. 301,190 shares of the company were exchanged, compared to its average volume of 93,918. The firm’s 50 day moving average is $15.14 and its 200-day moving average is $19.75. Cartesian Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $42.60.
Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $1.35. The firm had revenue of $33.45 million for the quarter, compared to the consensus estimate of $6.00 million. As a group, equities research analysts forecast that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cartesian Therapeutics
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on RNAC shares. HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a research note on Friday, September 13th. Canaccord Genuity Group upped their price target on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Needham & Company LLC cut their target price on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Oppenheimer downgraded shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Finally, TD Cowen started coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cartesian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.
Read Our Latest Analysis on RNAC
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.
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