Metin Kurtoglu Sells 2,458 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,458 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $41,368.14. Following the completion of the sale, the chief technology officer now owns 62,258 shares of the company’s stock, valued at $1,047,802.14. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 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 transaction of $425,796.00.

Cartesian Therapeutics Trading Down 1.4 %

Shares of NASDAQ RNAC opened at $16.92 on Thursday. The stock 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 twelve month low of $11.66 and a twelve month high of $41.87. The stock has a fifty day simple moving average of $19.13 and a 200-day simple moving average of $18.14.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors have recently bought and sold shares of RNAC. BNP Paribas Financial Markets boosted its stake in shares of Cartesian Therapeutics by 122.5% in the third 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 during the period. Point72 DIFC Ltd purchased a new stake in Cartesian Therapeutics during the 2nd quarter worth approximately $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth approximately $49,000. JPMorgan Chase & Co. boosted its position in Cartesian Therapeutics by 0.9% in the 3rd 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 during the period. Finally, Geode Capital Management LLC grew its stake in shares of Cartesian Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after acquiring an additional 2,737 shares in the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on RNAC. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. BTIG Research started coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $45.00 target price (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, December 3rd. Two 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 company currently 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.