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Timothy A. Springer, a director and significant shareholder of Cartesian Therapeutics, Inc. (NASDAQ:RNAC), recently acquired a substantial amount of the company’s common stock, according to a recent SEC filing. Over a three-day period ending March 20, 2025, Springer purchased a total of 89,863 shares, with an aggregate purchase value exceeding $1.37 million. The company, currently valued at $412 million, has seen its stock decline 31% over the past year. InvestingPro analysis shows the stock is trading near its Fair Value, with analysts setting price targets between $22 and $42.
The transactions were conducted at weighted average prices ranging from $14.42 to $15.59 per share. The purchases increased Springer’s direct ownership to 8,621,325 shares. Additionally, he holds indirect ownership of 330,695 shares through his wife and 529,798 shares through TAS Partners LLC, where he is the managing member. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 9.4x, indicating robust liquidity.
Springer’s continued investment in Cartesian Therapeutics underscores his confidence in the company’s prospects. The purchases were made in multiple transactions over March 18, 19, and 20, each at varying price points within the specified range. While the company’s overall financial health score is rated as "FAIR" by InvestingPro, which offers 7 additional investment insights for subscribers, revenue growth remains strong at nearly 50% year-over-year.
In other recent news, Cartesian Therapeutics has been the focus of several updates from financial analysts. Cantor Fitzgerald reaffirmed its Overweight rating for the company, maintaining a price target of $22.00. This decision followed an update to their financial model, reflecting Cartesian’s latest quarterly performance and guidance. On a similar note, H.C. Wainwright adjusted its price target for Cartesian Therapeutics to $40, down from $45, while still maintaining a Buy rating. This revision coincides with Cartesian’s progress in its Phase 3 AURORA trial, which evaluates the efficacy of Descartes-08 for myasthenia gravis patients.
Additionally, Cartesian Therapeutics received a written agreement from the U.S. Food and Drug Administration (FDA) regarding the design of its AURORA trial. This agreement, part of the Special Protocol Assessment process, supports the trial’s potential to back a future Biologics License Application. The trial, set to begin in the second half of 2025, will involve around 100 participants and aims to measure improvements in MG-ADL scores. Analysts from H.C. Wainwright remain optimistic about Cartesian’s clinical milestones and the future success of Descartes-08. These developments highlight Cartesian Therapeutics’ ongoing efforts in advancing its therapeutic candidates and securing regulatory support.
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