Cartesian Therapeutics (NASDAQ:RNAC) Upgraded at Cantor Fitzgerald

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

A number of other research firms have also recently commented on RNAC. Needham & Company LLC restated a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research note on Monday, November 25th. TD Cowen started coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They set a “buy” rating on the stock. Finally, HC Wainwright cut their price objective on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Cartesian Therapeutics Stock Performance

RNAC opened at $20.08 on Monday. The stock has a market capitalization of $510.43 million, a P/E ratio of -0.38 and a beta of 0.59. The company’s 50-day simple moving average is $19.88 and its two-hundred day simple moving average is $19.73. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $41.87.

Insider Activity

In other Cartesian Therapeutics news, insider Milos Miljkovic sold 35,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the sale, the insider now directly owns 18,273 shares of the company’s stock, valued at $294,743.49. This trade represents a 65.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy A. Springer acquired 80,301 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were acquired at an average cost of $22.58 per share, with a total value of $1,813,196.58. Following the completion of the transaction, the director now directly owns 8,023,766 shares in the company, valued at approximately $181,176,636.28. The trade was a 1.01 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 128,089 shares of company stock worth $2,169,555 in the last quarter. Corporate insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. purchased a new stake in shares of Cartesian Therapeutics in the first quarter valued at about $4,105,000. Logos Global Management LP purchased a new stake in shares of Cartesian Therapeutics in the second quarter valued at about $2,431,000. Marshall Wace LLP purchased a new stake in shares of Cartesian Therapeutics in the second quarter valued at about $811,000. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics in the second quarter valued at about $47,000. Finally, Great Point Partners LLC purchased a new stake in shares of Cartesian Therapeutics in the third quarter valued at about $3,224,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.