Metin Kurtoglu Sells 34,400 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 34,400 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.39, for a total value of $632,616.00. Following the sale, the chief technology officer now owns 51,033 shares of the company’s stock, valued at approximately $938,496.87. This represents a 40.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value of $425,796.00.

Cartesian Therapeutics Stock Down 3.5 %

Shares of NASDAQ:RNAC opened at $16.94 on Thursday. The firm has a market cap of $430.61 million, a P/E ratio of -0.33 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 business has a fifty day simple moving average of $19.42 and a 200 day simple moving average of $20.13.

Wall Street Analyst Weigh In

RNAC has been the topic of a number of research analyst reports. TD Cowen started coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating on the stock. HC Wainwright lowered their price target on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued 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 $42.33.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in 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 acquiring an additional 909 shares during the period. SG Americas Securities LLC bought a new stake in shares of Cartesian Therapeutics during the first quarter worth about $31,000. American International Group Inc. bought a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $37,000. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics in the second quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cartesian Therapeutics in the 2nd quarter worth approximately $49,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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.