Cubist Systematic Strategies LLC Makes New $351,000 Investment in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Cubist Systematic Strategies LLC acquired a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,010 shares of the company’s stock, valued at approximately $351,000. Cubist Systematic Strategies LLC owned about 0.06% of Cartesian Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RNAC. Point72 DIFC Ltd acquired a new stake in Cartesian Therapeutics during the 2nd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics in the 2nd quarter valued at about $49,000. Marshall Wace LLP acquired a new stake in Cartesian Therapeutics during the second quarter worth approximately $811,000. Lake Street Advisors Group LLC bought a new stake in shares of Cartesian Therapeutics during the second quarter worth approximately $855,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cartesian Therapeutics in the first quarter valued at approximately $31,000. 86.95% of the stock is currently owned by institutional investors.

Insider Activity at Cartesian Therapeutics

In related news, Director Timothy A. Springer bought 80,301 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was acquired at an average cost of $22.58 per share, with a total value of $1,813,196.58. Following the transaction, the director now directly owns 8,023,766 shares in the company, valued at approximately $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. In related news, Director Timothy A. Springer purchased 80,301 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was bought at an average price of $22.58 per share, with a total value of $1,813,196.58. Following the completion of the purchase, 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 legal filing with the SEC, which is available at this link. Also, Director Timothy A. Springer acquired 5,514 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $17.38 per share, with a total value of $95,833.32. Following the completion of the transaction, the director now directly owns 7,823,559 shares of the company’s stock, valued at $135,973,455.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 93,831 shares of company stock worth $2,010,993 over the last three months. Company insiders own 57.90% of the company’s stock.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $22.16 on Monday. The stock’s 50-day moving average is $15.94 and its 200-day moving average is $19.82. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $1.35. The business had revenue of $33.45 million for the quarter, compared to the consensus estimate of $6.00 million. On average, research analysts forecast that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.