BNP Paribas Financial Markets Has $27,000 Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

BNP Paribas Financial Markets grew its position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 122.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,651 shares of the company’s stock after purchasing an additional 909 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cartesian Therapeutics were worth $27,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Logos Global Management LP bought a new position in Cartesian Therapeutics during the second quarter worth $2,431,000. FMR LLC boosted its position in Cartesian Therapeutics by 458.3% in the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after buying an additional 2,341,054 shares in the last quarter. Marshall Wace LLP acquired a new position in Cartesian Therapeutics in the second quarter worth $811,000. Point72 DIFC Ltd bought a new position in shares of Cartesian Therapeutics in the second quarter worth about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cartesian Therapeutics during the second quarter worth $49,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Trading Down 1.3 %

NASDAQ RNAC opened at $19.02 on Friday. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $41.87. The firm has a market capitalization of $483.39 million, a price-to-earnings ratio of -0.36 and a beta of 0.59. The firm’s 50 day simple moving average is $20.10 and its 200 day simple moving average is $19.19.

Insider Activity

In related news, CTO Metin Kurtoglu sold 34,400 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.39, for a total value of $632,616.00. Following the completion of the sale, the chief technology officer now directly owns 51,033 shares in the company, valued at $938,496.87. This represents a 40.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy A. Springer bought 5,514 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the acquisition, the director now directly owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. This trade represents a 0.07 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 128,089 shares of company stock worth $2,169,555. Insiders own 57.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RNAC. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. BTIG Research assumed coverage on Cartesian Therapeutics in a research note on Thursday. They issued a “buy” rating and a $42.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price (up from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.86.

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.