Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells $564,550.00 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total transaction of $564,550.00. Following the completion of the transaction, the insider now owns 18,273 shares of the company’s stock, valued at $294,743.49. This trade represents a 65.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cartesian Therapeutics Price Performance

NASDAQ RNAC traded up $1.24 on Monday, hitting $18.57. 199,173 shares of the stock were exchanged, compared to its average volume of 95,562. The business’s fifty day moving average is $19.26 and its 200 day moving average is $20.23. Cartesian Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $42.60. The company has a market capitalization of $471.96 million, a PE ratio of -0.35 and a beta of 0.63.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Friday, November 8th. HC Wainwright decreased their price objective on 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, TD Cowen assumed coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Cartesian Therapeutics in the 1st quarter valued at $38,000. SG Americas Securities LLC bought a new stake in Cartesian Therapeutics in the 1st quarter valued at $31,000. Vanguard Group Inc. bought a new stake in Cartesian Therapeutics in the 1st quarter valued at $4,105,000. American International Group Inc. bought a new stake in Cartesian Therapeutics in the 1st quarter valued at $37,000. Finally, Artal Group S.A. bought a new stake in Cartesian Therapeutics in the 1st quarter valued at $5,939,000. 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.