Metin Kurtoglu Sells 2,417 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,417 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $40,412.24. Following the completion of the transaction, the chief technology officer now directly owns 64,716 shares in the company, valued at approximately $1,082,051.52. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, January 6th, Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.83, for a total value of $41,368.14.
• On Thursday, November 21st, Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.67, for a total transaction of $546,592.63.
• On Monday, November 18th, Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $18.39, for a total transaction of $632,616.00.
• 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 transaction of $425,796.00.

Cartesian Therapeutics Stock Down 1.4 %

Shares of NASDAQ:RNAC opened at $16.92 on Thursday. The company has a market cap of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. The business has a 50 day moving average price of $19.13 and a 200 day moving average price of $18.14. Cartesian Therapeutics, Inc. has a twelve month low of $11.66 and a twelve month high of $41.87.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position 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 acquiring an additional 909 shares during the period. Point72 DIFC Ltd acquired a new stake in Cartesian Therapeutics in the 2nd quarter worth $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cartesian Therapeutics during the 2nd quarter worth about $49,000. Barclays PLC raised its position in shares of Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Cartesian Therapeutics in the second quarter valued at about $351,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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