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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $15,954.84. Following the transaction, the insider now owns 35,393 shares in the company, valued at $595,664.19. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction 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 transaction of $564,550.00.

Cartesian Therapeutics Stock Performance

Shares of RNAC stock opened at $16.92 on Friday. The firm has a market capitalization of $430.02 million, a PE ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $41.87. The stock has a fifty day moving average of $19.08 and a two-hundred day moving average of $18.13.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RNAC. FMR LLC lifted its stake in shares of Cartesian Therapeutics by 458.3% in the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after acquiring an additional 2,341,054 shares during the period. JPMorgan Chase & Co. raised its holdings in Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after purchasing an additional 2,688 shares in the last quarter. Great Point Partners LLC acquired a new stake in Cartesian Therapeutics in the third quarter worth approximately $3,224,000. State Street Corp boosted its stake in Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after purchasing an additional 3,830 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Cartesian Therapeutics by 2.1% during the 3rd 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 period. Institutional investors own 86.95% of the company’s stock.

Analyst Ratings Changes

RNAC has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. BTIG Research assumed coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research 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. Based on data from MarketBeat.com, Cartesian Therapeutics 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.