Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells 932 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 932 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $15,583.04. Following the sale, the insider now directly owns 36,341 shares in the company, valued at approximately $607,621.52. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, January 6th, Milos Miljkovic sold 948 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.83, for a total value of $15,954.84.
• On Thursday, November 14th, Milos Miljkovic sold 35,000 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.13, for a total transaction of $564,550.00.

Cartesian Therapeutics Stock Down 1.4 %

NASDAQ:RNAC opened at $16.92 on Thursday. Cartesian Therapeutics, Inc. has a twelve month low of $11.66 and a twelve month high of $41.87. The firm has a market capitalization of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. The stock’s 50 day moving average price is $19.13 and its two-hundred day moving average price is $18.14.

Institutional Trading of Cartesian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. BNP Paribas Financial Markets increased its stake in shares of Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after purchasing an additional 909 shares during the last quarter. Point72 DIFC Ltd bought a new position in Cartesian Therapeutics during the second quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cartesian Therapeutics during the second quarter worth approximately $49,000. Barclays PLC raised its stake in Cartesian Therapeutics by 208.6% in the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Cartesian Therapeutics in the second quarter valued at approximately $351,000. 86.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on RNAC. Needham & Company LLC reaffirmed a “buy” rating and issued 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 issued a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. BTIG Research began coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. 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.com, the stock currently has an average rating of “Moderate Buy” and an average 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.