Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $41,368.14 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,458 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $41,368.14. Following the sale, the chief technology officer now owns 62,258 shares in the company, valued at $1,047,802.14. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, January 3rd, Metin Kurtoglu sold 2,417 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.72, for a total transaction of $40,412.24.
• On Thursday, November 21st, Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.67, for a total transaction of $546,592.63.
• 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 value of $632,616.00.
• On Thursday, November 14th, Metin Kurtoglu sold 25,900 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.44, for a total value of $425,796.00.

Cartesian Therapeutics Stock Performance

Shares of Cartesian Therapeutics stock opened at $16.92 on Thursday. The company has a market capitalization of $430.02 million, a P/E ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $41.87. The company’s fifty day moving average is $19.13 and its two-hundred day moving average is $18.14.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RNAC. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. BTIG Research began coverage on shares of Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.86.

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. Logos Global Management LP acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth approximately $2,431,000. FMR LLC raised its stake in shares of Cartesian Therapeutics by 458.3% during the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after purchasing an additional 2,341,054 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Cartesian Therapeutics during the second quarter worth approximately $811,000. BNP Paribas Financial Markets lifted its holdings in shares of Cartesian Therapeutics by 122.5% during the third 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 period. Finally, State Street Corp grew its position in Cartesian Therapeutics by 2.5% in the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after buying an additional 3,830 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.