Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $425,796.00 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 25,900 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.44, for a total transaction of $425,796.00. Following the completion of the sale, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at approximately $838,982.52. The trade was a 33.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 value of $632,616.00.

Cartesian Therapeutics Trading Up 7.2 %

Shares of Cartesian Therapeutics stock traded up $1.24 during trading on Monday, hitting $18.57. 199,173 shares of the stock traded hands, compared to its average volume of 95,562. The stock’s fifty day simple moving average is $19.26 and its 200 day simple moving average is $20.23. The firm has a market cap of $471.96 million, a P/E 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RNAC shares. TD Cowen started coverage on Cartesian Therapeutics in a research note on Tuesday, August 6th. They set a “buy” rating on the stock. 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Cartesian Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after purchasing an additional 2,737 shares in the last quarter. Barclays PLC lifted its holdings in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after buying an additional 7,849 shares during the period. State Street Corp boosted its position in Cartesian Therapeutics by 2.5% during the 3rd 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 in the last quarter. Great Point Partners LLC purchased a new position in shares of Cartesian Therapeutics in the 3rd quarter valued at $3,224,000. Finally, BNP Paribas Financial Markets raised its position in shares of Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after acquiring an additional 909 shares in 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.