Blaine Davis Sells 10,591 Shares of Cartesian Therapeutics (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CFO Blaine Davis sold 10,591 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total value of $72,230.62. Following the sale, the chief financial officer directly owned 121,220 shares in the company, valued at approximately $826,720.40. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ RNAC opened at $8.20 on Friday. The stock has a market capitalization of $213.20 million, a P/E ratio of -5.26 and a beta of 0.38. The stock’s fifty day moving average is $7.38 and its 200 day moving average is $9.57. Cartesian Therapeutics, Inc. has a 52 week low of $5.98 and a 52 week high of $20.12.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.57). The company had revenue of $0.45 million for the quarter, compared to analyst estimates of $0.18 million. Equities research analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on RNAC shares. BTIG Research lifted their price objective on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. Wall Street Zen cut Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Needham & Company LLC raised their price objective on Cartesian Therapeutics from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday. Finally, HC Wainwright decreased their target price on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of Cartesian Therapeutics during the 3rd quarter valued at $259,000. Bridgeway Capital Management LLC acquired a new stake in shares of Cartesian Therapeutics during the third quarter valued at about $256,000. GSA Capital Partners LLP grew its holdings in shares of Cartesian Therapeutics by 106.9% during the third quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock worth $880,000 after purchasing an additional 44,493 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Cartesian Therapeutics by 4.9% during the third quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock worth $5,322,000 after purchasing an additional 24,356 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in shares of Cartesian Therapeutics by 64.6% in the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after buying an additional 2,717 shares during the period. 86.95% of the stock is currently owned by institutional investors.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.