Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $546,592.63 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $16.67, for a total value of $546,592.63. Following the transaction, the chief technology officer now directly owns 51,033 shares in the company, valued at approximately $850,720.11. The trade was a 39.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 Up 13.5 %

Shares of Cartesian Therapeutics stock opened at $18.87 on Friday. The stock has a market cap of $479.68 million, a PE ratio of -0.36 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 12 month low of $11.66 and a 12 month high of $42.60. The business has a fifty day simple moving average of $19.50 and a 200-day simple moving average of $20.04.

Hedge Funds Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings 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 worth $27,000 after purchasing an additional 909 shares during the period. SG Americas Securities LLC acquired a new position in Cartesian Therapeutics in the 1st quarter valued at approximately $31,000. American International Group Inc. acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at $37,000. Point72 DIFC Ltd purchased a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cartesian Therapeutics in the second quarter worth $49,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Analyst Upgrades and Downgrades

RNAC has been the subject of a number of research reports. HC Wainwright reduced their target price on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Friday, November 8th. Finally, TD Cowen assumed coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cartesian Therapeutics has an average 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.