Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells 2,417 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,417 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $40,412.24. Following the transaction, the chief technology officer now owns 64,716 shares of the company’s stock, valued at approximately $1,082,051.52. This represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 6th, Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.83, for a total transaction of $41,368.14.
• 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 transaction 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 transaction of $425,796.00.

Cartesian Therapeutics Trading Down 2.7 %

Shares of NASDAQ:RNAC opened at $17.16 on Wednesday. The stock has a fifty day simple moving average of $19.32 and a two-hundred day simple moving average of $18.19. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $41.87. The stock has a market capitalization of $436.12 million, a price-to-earnings ratio of -0.32 and a beta of 0.56.

Hedge Funds Weigh In On Cartesian Therapeutics

Several large investors have recently modified their holdings of the stock. FMR LLC grew its position in Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after purchasing an additional 2,341,054 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Cartesian Therapeutics by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after buying an additional 2,688 shares in the last quarter. Great Point Partners LLC purchased a new stake in shares of Cartesian Therapeutics during the third quarter valued at approximately $3,224,000. State Street Corp increased its position in shares of Cartesian Therapeutics by 2.5% during the third 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. Finally, Geode Capital Management LLC raised its holdings in Cartesian Therapeutics by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after acquiring an additional 2,737 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, BTIG Research assumed coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight 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 $42.86.

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.