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Timothy A. Springer, a director and significant shareholder of Cartesian Therapeutics, Inc. (NASDAQ:RNAC), has acquired additional shares of the company’s common stock, according to a recent SEC filing. The transactions, which took place over three consecutive days from April 9 to April 11, 2025, involved the purchase of shares totaling approximately $1.52 million. The purchases come as InvestingPro data shows the stock trading at $10.67, with analysts setting price targets between $22 and $42.
The purchases were executed at prices ranging from $9.43 to $10.92 per share. Following these transactions, Springer’s direct and indirect holdings in Cartesian Therapeutics have increased significantly, underscoring his confidence in the company’s prospects. This confidence comes despite the stock’s 52% decline over the past six months, though InvestingPro analysis suggests the stock is currently undervalued.
The transactions were conducted in multiple tranches, with shares acquired both directly and through TAS Partners LLC, where Springer serves as the managing member. This series of acquisitions highlights the continued interest and investment by key insiders in Cartesian Therapeutics. The company maintains strong liquidity with a current ratio of 9.43, and according to InvestingPro, holds more cash than debt on its balance sheet. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
In other recent news, Cartesian Therapeutics has been the focus of several analyst reports and updates. Cantor Fitzgerald reaffirmed its Overweight rating on Cartesian Therapeutics, maintaining a price target of $22.00. This decision followed a routine update to their financial model, reflecting the company’s latest quarterly performance and guidance. Meanwhile, H.C. Wainwright adjusted its price target for Cartesian Therapeutics, lowering it to $40 from $45, though it maintained a Buy rating. This revision comes as Cartesian advances its Phase 3 AURORA trial for Descartes-08, aimed at treating myasthenia gravis. The trial has received a Special Protocol Assessment from the FDA, confirming its design for future regulatory submissions. Cartesian is also progressing with other clinical programs, including a Phase 2 trial for Descartes-08 in systemic lupus erythematosus and a planned Phase 2 pediatric basket trial. These developments highlight Cartesian’s ongoing efforts in clinical trials and regulatory processes.
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