Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $425,796.00 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 25,900 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $16.44, for a total value of $425,796.00. Following the completion of the sale, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at approximately $838,982.52. The trade was a 33.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $632,616.00.

Cartesian Therapeutics Stock Performance

RNAC opened at $16.94 on Thursday. The stock has a fifty day moving average of $19.42 and a 200-day moving average of $20.13. The company has a market capitalization of $430.61 million, a P/E ratio of -0.33 and a beta of 0.63. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $42.60.

Institutional Trading of Cartesian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. bought a new stake in shares of Cartesian Therapeutics in the first quarter valued at approximately $4,105,000. Logos Global Management LP bought a new position in Cartesian Therapeutics in the 2nd quarter valued at about $2,431,000. BNP Paribas Financial Markets bought a new stake in shares of Cartesian Therapeutics during the 1st quarter worth approximately $38,000. American International Group Inc. acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter worth approximately $37,000. Finally, SG Americas Securities LLC bought a new position in Cartesian Therapeutics in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

Analyst Ratings Changes

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

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.