Great Point Partners LLC Takes $3.22 Million Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Great Point Partners LLC bought a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 200,000 shares of the company's stock, valued at approximately $3,224,000. Cartesian Therapeutics makes up approximately 0.9% of Great Point Partners LLC's portfolio, making the stock its 26th largest position. Great Point Partners LLC owned about 0.79% of Cartesian Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RNAC. SG Americas Securities LLC bought a new position in Cartesian Therapeutics during the first quarter valued at $31,000. Vanguard Group Inc. bought a new position in shares of Cartesian Therapeutics in the first quarter worth $4,105,000. American International Group Inc. bought a new position in shares of Cartesian Therapeutics in the first quarter worth $37,000. Artal Group S.A. bought a new position in shares of Cartesian Therapeutics in the first quarter worth $5,939,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of Cartesian Therapeutics in the second quarter worth $855,000. 86.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Cartesian Therapeutics

In related news, Director Timothy A. Springer bought 5,514 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the purchase, the director now owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. This represents a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Milos Miljkovic sold 35,000 shares of the business's stock in a transaction 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 sale, the insider now directly owns 18,273 shares of the company's stock, valued at approximately $294,743.49. The trade was a 65.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,089 shares of company stock worth $2,169,555. Insiders own 57.90% of the company's stock.

Cartesian Therapeutics Stock Down 0.6 %

RNAC traded down $0.12 during mid-day trading on Wednesday, reaching $18.53. 16,983 shares of the company traded hands, compared to its average volume of 95,294. The stock has a market capitalization of $471.03 million, a P/E ratio of -0.35 and a beta of 0.63. The company's fifty day moving average price is $19.58 and its 200-day moving average price is $19.95. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $41.87.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RNAC shares. TD Cowen began coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a "buy" rating for the company. HC Wainwright reduced their price objective on Cartesian Therapeutics from $45.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.33.

Cartesian Therapeutics 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.