Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $425,796.00 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 25,900 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.44, for a total value of $425,796.00. Following the completion of the sale, the chief technology officer now owns 51,033 shares in the company, valued at $838,982.52. This represents a 33.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 18th, Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $18.39, for a total transaction of $632,616.00.

Cartesian Therapeutics Price Performance

Shares of RNAC opened at $17.55 on Wednesday. The firm has a market capitalization of $446.12 million, a price-to-earnings ratio of -0.36 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $42.60. The company has a 50-day moving average of $19.37 and a 200 day moving average of $20.19.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RNAC shares. 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. TD Cowen began coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating for the company. Finally, HC Wainwright lowered their price target on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a research 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. According to data from MarketBeat.com, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Institutional Inflows and Outflows

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