Milos Miljkovic Sells 35,000 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 35,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the sale, the insider now owns 18,273 shares in the company, valued at approximately $294,743.49. This represents a 65.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cartesian Therapeutics Trading Up 7.2 %

Shares of NASDAQ RNAC opened at $18.57 on Tuesday. The stock has a market cap of $471.96 million, a P/E ratio of -0.35 and a beta of 0.63. Cartesian Therapeutics, Inc. has a twelve month low of $11.66 and a twelve month high of $42.60. The stock has a 50 day moving average of $19.26 and a two-hundred day moving average of $20.23.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen assumed coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. HC Wainwright reduced their price objective on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Institutional Trading of Cartesian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Cartesian Therapeutics during the 1st quarter worth $38,000. SG Americas Securities LLC acquired a new stake in shares of Cartesian Therapeutics during the first quarter worth about $31,000. Vanguard Group Inc. purchased a new position in shares of Cartesian Therapeutics during the first quarter worth about $4,105,000. American International Group Inc. acquired a new position in Cartesian Therapeutics in the 1st quarter valued at about $37,000. Finally, Artal Group S.A. acquired a new position in Cartesian Therapeutics in the 1st quarter valued at about $5,939,000. 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.