Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells 25,900 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 25,900 shares of Cartesian Therapeutics stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.44, for a total value of $425,796.00. Following the completion of the transaction, the chief technology officer now owns 51,033 shares in the company, valued at approximately $838,982.52. This represents a 33.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Metin Kurtoglu also recently made the following trade(s):

• On Monday, November 18th, Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $18.39, for a total transaction of $632,616.00.

Cartesian Therapeutics Trading Down 3.5 %

Shares of RNAC opened at $16.94 on Thursday. The stock’s 50-day moving average price is $19.42 and its two-hundred day moving average price is $20.13. Cartesian Therapeutics, Inc. has a 12 month low of $11.66 and a 12 month high of $42.60. The company has a market capitalization of $430.61 million, a PE ratio of -0.33 and a beta of 0.63.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in RNAC. BNP Paribas Financial Markets raised its holdings in Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after purchasing an additional 909 shares during the last quarter. Point72 DIFC Ltd bought a new position in Cartesian Therapeutics during the second quarter worth $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cartesian Therapeutics in the second quarter valued at $49,000. Barclays PLC boosted its position in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after acquiring an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth about $351,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.