Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $41,368.14 in 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 transaction of $41,368.14. Following the sale, the chief technology officer now owns 62,258 shares in the company, valued at approximately $1,047,802.14. This represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 shares were 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 stock was 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 shares were sold at an average price of $18.39, for a total value 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

RNAC opened at $16.92 on Friday. The firm has a market capitalization of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. The company’s 50 day simple moving average is $19.08 and its two-hundred day simple moving average is $18.13. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $41.87.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $45.00 target price (up previously from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research note 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.86.

Hedge Funds Weigh In On Cartesian Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after purchasing an additional 909 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Cartesian Therapeutics during the 2nd quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at approximately $49,000. Barclays PLC lifted its holdings in Cartesian Therapeutics by 208.6% in the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after acquiring an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Cartesian Therapeutics in the second quarter worth approximately $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.