Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $546,592.63 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $16.67, for a total value of $546,592.63. Following the completion of the transaction, the chief technology officer now owns 51,033 shares of the company’s stock, valued at approximately $850,720.11. This represents a 39.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 18th, Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock. The stock was 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 shares were sold at an average price of $16.44, for a total value of $425,796.00.

Cartesian Therapeutics Stock Performance

RNAC traded down $0.32 during trading on Thursday, hitting $16.62. 94,138 shares of the stock were exchanged, compared to its average volume of 95,843. The firm has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $20.11. The firm has a market cap of $422.48 million, a price-to-earnings ratio of -0.32 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $42.60.

Analyst Ratings Changes

A number of research firms have weighed in on RNAC. HC Wainwright cut their price objective on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research note on Friday, November 8th. Finally, TD Cowen began coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.33.

Hedge Funds Weigh In On Cartesian Therapeutics

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

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.