Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells 948 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $15,954.84. Following the transaction, the insider now directly owns 35,393 shares in the company, valued at $595,664.19. The trade was a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Milos Miljkovic also recently made the following trade(s):

• On Friday, January 3rd, Milos Miljkovic sold 932 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.72, for a total transaction of $15,583.04.
• On Thursday, November 14th, Milos Miljkovic sold 35,000 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.13, for a total value of $564,550.00.

Cartesian Therapeutics Trading Down 2.7 %

NASDAQ:RNAC traded down $0.47 on Tuesday, reaching $17.16. 105,686 shares of the stock traded hands, compared to its average volume of 132,021. The company has a market capitalization of $436.12 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. The company’s fifty day simple moving average is $19.32 and its 200 day simple moving average is $18.19. Cartesian Therapeutics, Inc. has a 12 month low of $11.66 and a 12 month high of $41.87.

Wall Street Analyst Weigh In

RNAC has been the subject of several analyst reports. BTIG Research started coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price for the company. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. 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 Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.86.

Hedge Funds Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after buying an additional 909 shares during the period. Point72 DIFC Ltd purchased a new stake in Cartesian Therapeutics in the 2nd quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cartesian Therapeutics in the 2nd quarter worth $49,000. Barclays PLC boosted its stake in Cartesian Therapeutics by 208.6% in the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after purchasing an additional 7,849 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Cartesian Therapeutics during the second quarter valued at $351,000. 86.95% of the stock is owned by institutional investors.

About Cartesian Therapeutics

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.