1,725 Shares in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,725 shares of the company’s stock, valued at approximately $47,000.

Several other hedge funds have also recently added to or reduced their stakes in RNAC. Marshall Wace LLP acquired a new stake in shares of Cartesian Therapeutics during the second quarter worth $811,000. Lake Street Advisors Group LLC acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth about $855,000. SG Americas Securities LLC bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth about $31,000. American International Group Inc. acquired a new position in shares of Cartesian Therapeutics in the 1st quarter valued at about $37,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at about $38,000. Institutional investors own 86.95% of the company’s stock.

Insider Activity

In related news, Director Timothy A. Springer purchased 8,016 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $12.72 per share, for a total transaction of $101,963.52. Following the completion of the acquisition, the director now owns 11,509 shares of the company’s stock, valued at approximately $146,394.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 61.10% of the company’s stock.

Cartesian Therapeutics Stock Down 2.1 %

Cartesian Therapeutics stock opened at $17.00 on Friday. The firm’s fifty day moving average price is $15.00 and its two-hundred day moving average price is $19.70. 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 for the quarter, beating the consensus estimate of ($0.81) by $1.35. The business had revenue of $33.45 million during the quarter, compared to the consensus estimate of $6.00 million. Analysts anticipate that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RNAC shares. Needham & Company LLC lowered their target price on Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 9th. Canaccord Genuity Group lifted their price objective on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Cartesian Therapeutics in a research note on Friday, September 13th. Oppenheimer downgraded shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, TD Cowen began coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.