Milos Miljkovic Sells 948 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $15,954.84. Following the completion of the transaction, the insider now owns 35,393 shares in the company, valued at approximately $595,664.19. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, January 3rd, Milos Miljkovic sold 932 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.72, for a total value of $15,583.04.
• 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 Performance

RNAC stock opened at $16.92 on Thursday. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $41.87. The firm has a market cap of $430.02 million, a PE ratio of -0.32 and a beta of 0.56. The firm’s 50 day moving average price is $19.13 and its 200-day moving average price is $18.14.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. BTIG Research began coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Logos Global Management LP acquired a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at $2,431,000. FMR LLC lifted its position in Cartesian Therapeutics by 458.3% in the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after buying an additional 2,341,054 shares during the last quarter. Marshall Wace LLP acquired a new position in Cartesian Therapeutics in the second quarter valued at about $811,000. BNP Paribas Financial Markets boosted its stake in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after buying an additional 909 shares during the period. Finally, State Street Corp increased its position in shares of Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after acquiring an additional 3,830 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.