Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu Sells 34,400 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 34,400 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.39, for a total value of $632,616.00. Following the sale, the chief technology officer now owns 51,033 shares in the company, valued at $938,496.87. This represents a 40.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, November 14th, Metin Kurtoglu sold 25,900 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.44, for a total value of $425,796.00.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $18.57 on Tuesday. The firm has a market cap of $471.96 million, a price-to-earnings ratio of -0.35 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $42.60. The firm has a 50 day moving average price of $19.26 and a two-hundred day moving average price of $20.23.

Analysts Set New Price Targets

RNAC has been the subject of several recent research reports. TD Cowen began coverage on Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating for the company. Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research report on Friday, November 8th. Finally, HC Wainwright cut their price target on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a report 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter worth approximately $31,000. American International Group Inc. bought a new stake in shares of Cartesian Therapeutics in the 1st quarter valued at $37,000. Point72 DIFC Ltd acquired a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics during the second quarter worth $49,000. 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.