Stock analysts at BTIG Research started coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) in a report issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $42.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 120.82% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and issued a $45.00 price objective (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.86.
Get Our Latest Analysis on RNAC
Cartesian Therapeutics Stock Performance
Insider Transactions at Cartesian Therapeutics
In related news, CTO Metin Kurtoglu sold 32,789 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $16.67, for a total value of $546,592.63. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Milos Miljkovic sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $16.13, for a total transaction of $564,550.00. Following the transaction, the insider now owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. This represents a 65.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,089 shares of company stock worth $2,169,555 in the last three months. Insiders own 57.90% of the company’s stock.
Institutional Trading of Cartesian Therapeutics
Several hedge funds have recently added to or reduced their stakes in RNAC. BNP Paribas Financial Markets grew its stake in Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after acquiring an additional 909 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at approximately $49,000. Barclays PLC increased its stake in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after purchasing an additional 7,849 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth approximately $351,000. Institutional investors and hedge funds 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.
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