Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells 35,000 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 35,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.13, for a total transaction of $564,550.00. Following the sale, the insider now directly owns 18,273 shares of the company’s stock, valued at $294,743.49. The trade was a 65.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cartesian Therapeutics Trading Down 5.5 %

Shares of RNAC opened at $17.55 on Wednesday. The business’s 50 day moving average is $19.37 and its 200 day moving average is $20.19. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $42.60. The company has a market capitalization of $446.12 million, a PE ratio of -0.36 and a beta of 0.63.

Hedge Funds Weigh In On Cartesian Therapeutics

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake 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. SG Americas Securities LLC purchased a new position in Cartesian Therapeutics during the 1st quarter valued at approximately $31,000. American International Group Inc. bought a new stake in Cartesian Therapeutics in the 1st quarter worth approximately $37,000. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter worth approximately $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Analysts Set New Price Targets

RNAC has been the subject of a number of research reports. TD Cowen initiated coverage on shares of Cartesian Therapeutics in a report on Tuesday, August 6th. They set a “buy” rating for the company. HC Wainwright reduced their price objective on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

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.