Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu Sells 34,400 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 34,400 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $18.39, for a total value of $632,616.00. Following the completion of the sale, the chief technology officer now owns 51,033 shares of the company’s stock, valued at $938,496.87. This trade represents a 40.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, November 14th, Metin Kurtoglu sold 25,900 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.44, for a total transaction of $425,796.00.

Cartesian Therapeutics Trading Up 7.2 %

NASDAQ RNAC opened at $18.57 on Tuesday. The firm’s 50 day simple moving average is $19.26 and its 200 day simple moving average is $20.23. The firm has a market capitalization of $471.96 million, a price-to-earnings ratio of -0.35 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $42.60.

Analysts Set New Price Targets

RNAC has been the topic of a number of recent research reports. TD Cowen started coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. HC Wainwright lowered their target price on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.33.

Institutional Investors Weigh In On Cartesian Therapeutics

Large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted 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 worth $2,188,000 after buying an additional 2,737 shares during the last quarter. Barclays PLC grew its position 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. State Street Corp raised its stake in Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after acquiring an additional 3,830 shares in the last quarter. Great Point Partners LLC bought a new position in shares of Cartesian Therapeutics in the third quarter worth about $3,224,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.