Milos Miljkovic Sells 35,000 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 35,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.13, for a total transaction of $564,550.00. Following the completion of the transaction, the insider now owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. The trade was a 65.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cartesian Therapeutics Trading Down 5.5 %

RNAC stock opened at $17.55 on Wednesday. The stock’s 50 day simple moving average is $19.37 and its 200 day simple moving average is $20.19. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $42.60. The stock has a market capitalization of $446.12 million, a PE ratio of -0.36 and a beta of 0.63.

Institutional Investors Weigh In On Cartesian Therapeutics

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in Cartesian Therapeutics in the 1st quarter worth about $4,105,000. Logos Global Management LP purchased a new position in shares of Cartesian Therapeutics during the second quarter valued at approximately $2,431,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics during the first quarter valued at approximately $38,000. American International Group Inc. purchased a new stake in Cartesian Therapeutics in the first quarter worth approximately $37,000. Finally, SG Americas Securities LLC purchased a new stake in Cartesian Therapeutics in the first quarter worth approximately $31,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on RNAC. HC Wainwright decreased their target price 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 for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Friday, November 8th. One investment 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 company has an average rating of “Moderate Buy” and an average target price 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.