Metin Kurtoglu Sells 25,900 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 25,900 shares of Cartesian Therapeutics stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.44, for a total transaction of $425,796.00. Following the completion of the transaction, the chief technology officer now directly 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 legal filing with the SEC, which is accessible 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 value of $632,616.00.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC traded up $1.24 during midday trading on Monday, hitting $18.57. The company’s stock had a trading volume of 199,173 shares, compared to its average volume of 95,562. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $42.60. The firm’s 50 day moving average is $19.26 and its 200-day moving average is $20.23. The firm has a market cap of $471.96 million, a P/E ratio of -0.35 and a beta of 0.63.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RNAC. TD Cowen assumed coverage on Cartesian Therapeutics in a research note on Tuesday, August 6th. They set a “buy” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research note on Friday, November 8th. Finally, HC Wainwright decreased their price target 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Institutional Investors Weigh In On Cartesian Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Cartesian Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after buying an additional 2,737 shares during the last quarter. Barclays PLC grew its holdings in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after acquiring an additional 7,849 shares during the period. State Street Corp raised its position in 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 in the last quarter. Great Point Partners LLC acquired a new position in Cartesian Therapeutics in the third quarter valued at approximately $3,224,000. Finally, BNP Paribas Financial Markets boosted its position in Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after purchasing an additional 909 shares in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

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.