Yahoo Finance Cartesian Therapeutics Director Acquires 3.2% More Stock
Those following along with Cartesian Therapeutics, Inc. (NASDAQ:RNAC) will no doubt be intrigued by the recent purchase of shares by Timothy Springer, Director of the company, who spent a stonking US$666k on stock at an average price of US$0.56. There's no denying a buy of that magnitude suggests conviction in a brighter future, although we do note that proportionally it only increased their holding by 3.2%.
Check out our latest analysis for Cartesian Therapeutics
The Last 12 Months Of Insider Transactions At Cartesian Therapeutics
In fact, the recent purchase by Timothy Springer was the biggest purchase of Cartesian Therapeutics shares made by an insider individual in the last twelve months, according to our records. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of US$0.77. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
Timothy Springer bought a total of 1.20m shares over the year at an average price of US$0.56. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Cartesian Therapeutics is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Does Cartesian Therapeutics Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Insiders own 29% of Cartesian Therapeutics shares, worth about US$34m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About Cartesian Therapeutics Insiders?
It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. When combined with notable insider ownership, these factors suggest Cartesian Therapeutics insiders are well aligned, and that they may think the share price is too low. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For instance, we've identified 3 warning signs for Cartesian Therapeutics (1 is a bit unpleasant) you should be aware of.
But note: Cartesian Therapeutics may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
