Point72 DIFC Ltd Invests $47,000 in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Point72 DIFC Ltd bought a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,725 shares of the company’s stock, valued at approximately $47,000.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Cartesian Therapeutics during the first quarter worth about $31,000. American International Group Inc. purchased a new stake in shares of Cartesian Therapeutics during the first quarter worth about $37,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the first quarter worth about $38,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics in the second quarter worth about $49,000. Finally, Cubist Systematic Strategies LLC bought a new position in Cartesian Therapeutics in the second quarter worth about $351,000. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cartesian Therapeutics

In other news, Director Timothy A. Springer purchased 8,016 shares of Cartesian Therapeutics stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $12.72 per share, with a total value of $101,963.52. Following the completion of 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 Securities & Exchange Commission, which is available through this link. 61.10% of the stock is owned by insiders.

Cartesian Therapeutics Stock Up 5.1 %

Shares of NASDAQ RNAC opened at $17.99 on Thursday. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $42.60. The company has a 50 day simple moving average of $15.02 and a two-hundred day simple moving average of $19.73.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating 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. Analysts predict that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RNAC has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of Cartesian Therapeutics in a research note on Friday, September 13th. TD Cowen initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating for the company. Oppenheimer downgraded shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC decreased their price target on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.