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 business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.39, for a total value of $632,616.00. Following the completion of the sale, the chief technology officer now owns 51,033 shares of the company’s stock, valued at $938,496.87. The trade was a 40.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, November 14th, Metin Kurtoglu sold 25,900 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.44, for a total value of $425,796.00.

Cartesian Therapeutics Price Performance

RNAC opened at $17.55 on Wednesday. The firm has a market capitalization of $446.12 million, a PE ratio of -0.36 and a beta of 0.63. The business’s 50-day moving average is $19.37 and its two-hundred day moving average is $20.19. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $42.60.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RNAC. BNP Paribas Financial Markets boosted its stake in Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after acquiring an additional 909 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth $49,000. Barclays PLC grew its stake in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after buying an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Cartesian Therapeutics during the 2nd quarter valued at about $351,000. Institutional investors own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

RNAC has been the topic of a number of recent research reports. HC Wainwright dropped their price target on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. TD Cowen assumed coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

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.