Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Short Interest Update

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 784,200 shares, an increase of 22.8% from the April 15th total of 638,500 shares. Approximately 6.1% of the shares of the company are sold short. Based on an average daily volume of 62,200 shares, the days-to-cover ratio is presently 12.6 days.

Insider Activity

In other Cartesian Therapeutics news, Director Timothy A. Springer purchased 21,612 shares of Cartesian Therapeutics stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the completion of the acquisition, the director now owns 1,017,228 shares of the company's stock, valued at approximately $16,479,093.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have bought 22,446 shares of company stock valued at $365,474. 31.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

Several hedge funds have recently bought and sold shares of the company. Hall Laurie J Trustee bought a new position in shares of Cartesian Therapeutics in the 1st quarter valued at $34,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the first quarter valued at about $38,000. Delphi Financial Group Inc. acquired a new position in Cartesian Therapeutics during the first quarter worth about $430,000. SG Americas Securities LLC bought a new position in shares of Cartesian Therapeutics in the first quarter worth about $31,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Cartesian Therapeutics in the 1st quarter valued at approximately $4,105,000. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Trading Up 7.7 %

Shares of RNAC stock traded up $1.90 during trading on Wednesday, hitting $26.65. The company had a trading volume of 123,376 shares, compared to its average volume of 52,506. The stock's 50-day simple moving average is $19.56. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($2.10). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 983.93%. The company had revenue of $8.27 million for the quarter. Analysts forecast that Cartesian Therapeutics will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RNAC shares. HC Wainwright reaffirmed a "buy" rating and set a $54.00 target price on shares of Cartesian Therapeutics in a report on Thursday, May 9th. Leerink Partnrs restated an "outperform" rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. SVB Leerink initiated coverage on Cartesian Therapeutics in a research note on Tuesday, April 23rd. They set an "outperform" rating and a $39.00 target price on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $42.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, May 8th.

About Cartesian Therapeutics

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.

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