Milos Miljkovic Sells 948 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of Cartesian Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $15,954.84. Following the sale, the insider now directly owns 35,393 shares of the company’s stock, valued at approximately $595,664.19. This represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Milos Miljkovic also recently made the following trade(s):

• On Friday, January 3rd, Milos Miljkovic sold 932 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.72, for a total value of $15,583.04.
• On Thursday, November 14th, Milos Miljkovic sold 35,000 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.13, for a total value of $564,550.00.

Cartesian Therapeutics Stock Performance

RNAC opened at $16.92 on Thursday. The company has a fifty day moving average of $19.13 and a two-hundred day moving average of $18.14. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $41.87. The stock has a market capitalization of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56.

Analyst Upgrades and Downgrades

Several brokerages have commented on RNAC. HC Wainwright restated a “buy” rating and set a $45.00 price objective (up from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Finally, BTIG Research began coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $42.86.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings 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 purchasing an additional 909 shares during the period. Point72 DIFC Ltd acquired a new stake in Cartesian Therapeutics in the 2nd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cartesian Therapeutics in the 2nd quarter valued at $49,000. Barclays PLC increased its holdings in Cartesian Therapeutics by 208.6% in the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after acquiring an additional 7,849 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Cartesian Therapeutics during the second quarter worth $351,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.