Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $40,412.24 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,417 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $40,412.24. Following the sale, the chief technology officer now owns 64,716 shares of the company’s stock, valued at $1,082,051.52. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, January 6th, Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.83, for a total value 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 value 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 value 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 Price Performance

Cartesian Therapeutics stock opened at $16.92 on Friday. The business has a 50 day simple moving average of $19.08 and a 200 day simple moving average of $18.13. The company has a market capitalization of $430.02 million, a PE ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $41.87.

Institutional Investors Weigh In On Cartesian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after purchasing an additional 2,341,054 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cartesian Therapeutics by 0.9% during 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 bought a new position in shares of Cartesian Therapeutics in the third quarter valued at approximately $3,224,000. State Street Corp boosted its holdings in shares of Cartesian Therapeutics by 2.5% in the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after acquiring an additional 3,830 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Cartesian Therapeutics by 2.1% during 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. Institutional investors and hedge funds own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. BTIG Research initiated coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a 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 stock. Based on data from MarketBeat.com, Cartesian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.86.

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.