Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Milos Miljkovic Sells 35,000 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 35,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total value of $564,550.00. Following the sale, the insider now directly owns 18,273 shares in the company, valued at $294,743.49. This represents a 65.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ:RNAC traded up $1.24 during mid-day trading on Monday, reaching $18.57. 199,173 shares of the company’s stock were exchanged, compared to its average volume of 95,562. The firm has a market capitalization of $471.96 million, a price-to-earnings ratio of -0.35 and a beta of 0.63. Cartesian Therapeutics, Inc. has a twelve month low of $11.66 and a twelve month high of $42.60. The business’s fifty day moving average price is $19.26 and its 200-day moving average price is $20.23.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Friday, November 8th. TD Cowen began coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating on the stock. Finally, HC Wainwright decreased their price objective on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Artal Group S.A. acquired a new position in Cartesian Therapeutics during the 1st quarter worth about $5,939,000. Vanguard Group Inc. acquired a new position in Cartesian Therapeutics during the 1st quarter worth about $4,105,000. FMR LLC lifted its holdings in Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after buying an additional 2,341,054 shares during the period. Great Point Partners LLC bought a new stake in Cartesian Therapeutics during the third quarter valued at $3,224,000. Finally, State Street Corp boosted its position in Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after acquiring an additional 3,830 shares during the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

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.