90,000 Shares in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Bought by Logos Global Management LP

Logos Global Management LP acquired a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 90,000 shares of the company’s stock, valued at approximately $2,431,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Artal Group S.A. purchased a new stake in shares of Cartesian Therapeutics during the first quarter worth about $5,939,000. Vanguard Group Inc. bought a new stake in shares of Cartesian Therapeutics in the first quarter worth $4,105,000. Delphi Financial Group Inc. bought a new stake in Cartesian Therapeutics during the first quarter valued at $430,000. BNP Paribas Financial Markets bought a new position in shares of Cartesian Therapeutics during the first quarter worth about $38,000. Finally, American International Group Inc. bought a new position in shares of Cartesian Therapeutics during the first quarter worth about $37,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

Insider Activity at Cartesian Therapeutics

In other news, Director Timothy A. Springer acquired 8,016 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $12.72 per share, for a total transaction of $101,963.52. Following the transaction, the director now directly owns 11,509 shares of the company’s stock, valued at $146,394.48. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 61.10% of the stock is owned by company insiders.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $14.87 on Tuesday. The business has a 50-day moving average of $15.05 and a 200-day moving average of $19.78. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $1.35. The business had revenue of $33.45 million during the quarter, compared to analyst estimates of $6.00 million. On average, analysts anticipate that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RNAC shares. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Cartesian Therapeutics in a report on Friday, September 13th. TD Cowen assumed coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating on the stock. Oppenheimer downgraded Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Canaccord Genuity Group increased their price objective on Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Needham & Company LLC lowered their price target on Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Cartesian Therapeutics Company Profile

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.