Lake Street Advisors Group LLC Has $255,000 Stock Holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Lake Street Advisors Group LLC lowered its stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 50.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,822 shares of the company’s stock after selling 15,822 shares during the quarter. Lake Street Advisors Group LLC owned approximately 0.07% of Cartesian Therapeutics worth $255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at approximately $47,000. Cubist Systematic Strategies LLC acquired a new stake in Cartesian Therapeutics in the second quarter valued at $351,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at about $49,000. Logos Global Management LP bought a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at about $2,431,000. Finally, Marshall Wace LLP acquired a new position in shares of Cartesian Therapeutics during the 2nd quarter worth about $811,000. Institutional investors own 86.95% of the company’s stock.

Insiders Place Their Bets

In other Cartesian Therapeutics news, Director Timothy A. Springer acquired 8,016 shares of Cartesian Therapeutics stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $12.72 per share, with a total value of $101,963.52. Following the completion of the purchase, the director now directly owns 11,509 shares in the company, valued at $146,394.48. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Timothy A. Springer purchased 80,301 shares of the stock in a transaction on Friday, October 4th. The stock was purchased at an average price of $22.58 per share, for a total transaction of $1,813,196.58. Following the acquisition, the director now owns 8,023,766 shares in the company, valued at $181,176,636.28. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy A. Springer acquired 8,016 shares of Cartesian Therapeutics stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $12.72 per share, for a total transaction of $101,963.52. Following the completion of the purchase, the director now owns 11,509 shares in the company, valued at approximately $146,394.48. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 93,831 shares of company stock valued at $2,010,993 in the last 90 days. Corporate insiders own 61.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RNAC. Canaccord Genuity Group lifted their price target on Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. TD Cowen started coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They set a “buy” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, October 16th. HC Wainwright reiterated a “buy” rating and issued a $45.00 price objective on shares of Cartesian Therapeutics in a report on Friday, September 13th. Finally, Oppenheimer cut shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Cartesian Therapeutics Stock Down 6.9 %

Shares of Cartesian Therapeutics stock opened at $20.58 on Friday. The company has a 50 day moving average of $17.56 and a 200-day moving average of $20.22. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $1.35. The company had revenue of $33.45 million for the quarter, compared to analyst estimates of $6.00 million. As a group, equities analysts forecast that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current year.

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.