Milos Miljkovic Sells 932 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 932 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $15,583.04. Following the completion of the transaction, the insider now owns 36,341 shares in the company, valued at approximately $607,621.52. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, January 6th, Milos Miljkovic sold 948 shares of Cartesian Therapeutics stock. The shares were 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 stock was sold at an average price of $16.13, for a total transaction of $564,550.00.

Cartesian Therapeutics Stock Down 2.7 %

Cartesian Therapeutics stock traded down $0.47 during midday trading on Tuesday, reaching $17.16. 105,686 shares of the stock traded hands, compared to its average volume of 132,021. The stock’s fifty day moving average is $19.32 and its 200-day moving average is $18.19. Cartesian Therapeutics, Inc. has a 12 month low of $11.66 and a 12 month high of $41.87. The stock has a market cap of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RNAC. BNP Paribas Financial Markets boosted its stake in shares of Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics during the second quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cartesian Therapeutics during the second quarter valued at $49,000. JPMorgan Chase & Co. lifted its position in Cartesian Therapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after acquiring an additional 2,688 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Cartesian Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after acquiring an additional 2,737 shares during the period. 86.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RNAC. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. BTIG Research began coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.