Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $40,412.24 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,417 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total transaction of $40,412.24. Following the transaction, the chief technology officer now owns 64,716 shares in the company, valued at approximately $1,082,051.52. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, January 6th, Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.83, for a total value of $41,368.14.
• On Thursday, November 21st, Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.67, for a total transaction 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 value of $425,796.00.

Cartesian Therapeutics Price Performance

NASDAQ RNAC traded down $0.47 during mid-day trading on Tuesday, hitting $17.16. The company’s stock had a trading volume of 105,686 shares, compared to its average volume of 132,021. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $41.87. The firm has a market capitalization of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56. The stock’s fifty day simple moving average is $19.32 and its two-hundred day simple moving average is $18.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock valued at $4,981,000 after buying an additional 2,688 shares in the last quarter. Barclays PLC boosted its holdings in Cartesian Therapeutics by 208.6% in the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after purchasing an additional 7,849 shares during the period. Geode Capital Management LLC increased its stake in Cartesian Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after purchasing an additional 2,737 shares during the last quarter. State Street Corp lifted its position in shares of Cartesian Therapeutics by 2.5% in the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after buying an additional 3,830 shares during the last quarter. Finally, Great Point Partners LLC bought a new stake in shares of Cartesian Therapeutics during the 3rd quarter valued at about $3,224,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

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

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.