Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells 2,458 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,458 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $41,368.14. Following the sale, the chief technology officer now directly owns 62,258 shares of the company’s stock, valued at $1,047,802.14. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, January 3rd, Metin Kurtoglu sold 2,417 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.72, for a total value of $40,412.24.
• 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 value of $546,592.63.
• 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 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 Performance

Shares of NASDAQ RNAC opened at $17.16 on Wednesday. The firm has a 50 day moving average price of $19.32 and a 200 day moving average price of $18.19. The stock has a market cap of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $41.87.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RNAC. Logos Global Management LP acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth $2,431,000. Marshall Wace LLP bought a new stake in shares of Cartesian Therapeutics in the second quarter worth about $811,000. Point72 DIFC Ltd acquired a new stake in shares of Cartesian Therapeutics during the second quarter worth about $47,000. Cubist Systematic Strategies LLC bought a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at about $351,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

Wall Street Analysts Forecast Growth

RNAC has been the subject of a number of research reports. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. BTIG Research started coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $42.86.

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.