BNP Paribas Financial Markets Has $27,000 Stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

BNP Paribas Financial Markets increased its position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 122.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,651 shares of the company’s stock after purchasing an additional 909 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cartesian Therapeutics were worth $27,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Cartesian Therapeutics by 458.3% during the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after buying an additional 2,341,054 shares during the last quarter. Logos Global Management LP purchased a new stake in Cartesian Therapeutics in the 2nd quarter valued at $2,431,000. Lake Street Advisors Group LLC bought a new position in Cartesian Therapeutics during the 2nd quarter valued at $855,000. Marshall Wace LLP bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth $811,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Cartesian Therapeutics during the second quarter valued at about $351,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. BTIG Research assumed coverage on Cartesian Therapeutics in a research report on Thursday. They issued a “buy” rating and a $42.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.86.

Cartesian Therapeutics Trading Down 1.3 %

RNAC stock opened at $19.02 on Friday. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $41.87. The stock has a market capitalization of $483.39 million, a price-to-earnings ratio of -0.36 and a beta of 0.59. The firm’s 50-day moving average price is $20.10 and its two-hundred day moving average price is $19.19.

Insider Buying and Selling

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