Timothy A. Springer buys 80,301 shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Cartesian Therapeutics, Inc. (NASDAQ:RNAC – Get Your Free Report) Director Timothy A. Springer purchased 80,301 shares of the stock in a transaction dated Friday, October 4th. The stock was bought at an average price of $22.58 per share, for a total transaction of $1,813,196.58. Following the transaction, the director now owns 8,023,766 shares in the company, valued at approximately $181,176,636.28. This represents a 0.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website.

Cartesian therapy trading up 7.4%

NASDAQ:RNAC traded up $1.70 during midday trading on Friday, reaching $24.52. 301,190 shares of the stock traded hands, compared to its average volume of 93,918. The company has a fifty day moving average of $15.14 and a 200 day moving average of $19.75. Cartesian Therapeutics, Inc. it has a 12-month low of $11.66 and a 12-month high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report ) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping 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. On average, research analysts predict that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current year.

Wall Street analysts weigh in

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their price target on Cartesian Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. TD Cowen initiated coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a report on Friday, September 13th. Oppenheimer lowered Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC reduced their price target on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, 9 August. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $43.00, according to MarketBeat .

See our latest research report on Cartesian Therapy

Institutional investors intervene on Cartesian therapy

Major investors have recently made changes to their business positions. Point72 DIFC Ltd bought a new stake in Cartesian Therapeutics in the 2nd quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cartesian Therapeutics in the second quarter valued at approximately $49,000. Cubist Systematic Strategies LLC bought a new stake in Cartesian Therapeutics in the 2nd quarter valued at approximately $351,000. Marshall Wace LLP acquired a new position in shares of Cartesian Therapeutics in the second quarter worth about $811,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of Cartesian Therapeutics in the second quarter worth about $855,000. 86.95% of shares are currently held by institutional investors.

About Cartesian Therapy

(Get a free report)

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, is engaged in providing mRNA cell therapies for the treatment of autoimmune diseases. She is developing Descartes-08, an autologous anti-BCMA RNA antigen T-cell therapy, currently in Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus and autoimmune myeloma for other studies. autoimmune diseases.

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