Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells 25,900 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 25,900 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $16.44, for a total transaction of $425,796.00. Following the completion of the transaction, the chief technology officer now owns 51,033 shares of the company’s stock, valued at approximately $838,982.52. The trade was a 33.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $18.39, for a total transaction of $632,616.00.

Cartesian Therapeutics Trading Up 7.2 %

Shares of RNAC stock opened at $18.57 on Tuesday. The stock has a market capitalization of $471.96 million, a price-to-earnings ratio of -0.35 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $42.60. The stock’s 50-day moving average price is $19.26 and its 200-day moving average price is $20.23.

Institutional Trading of Cartesian Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Artal Group S.A. bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at approximately $5,939,000. Vanguard Group Inc. bought a new stake in Cartesian Therapeutics in the first quarter worth $4,105,000. FMR LLC raised its stake in Cartesian Therapeutics by 458.3% during the third 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 in the last quarter. Great Point Partners LLC bought a new position in Cartesian Therapeutics during the third quarter valued at $3,224,000. Finally, State Street Corp grew its stake 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 buying an additional 3,830 shares in the last quarter. Institutional investors own 86.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen assumed coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They set a “buy” rating on the stock. HC Wainwright decreased their target price on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.33.

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.