Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu Sells 2,417 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,417 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $40,412.24. Following the completion of the sale, the chief technology officer now directly owns 64,716 shares in the company, valued at approximately $1,082,051.52. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, January 6th, Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.83, for a total transaction of $41,368.14.
• On Thursday, November 21st, Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.67, for a total transaction of $546,592.63.
• On Monday, November 18th, Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock. The stock was 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 Price Performance

Shares of RNAC stock opened at $17.16 on Wednesday. The business has a 50-day moving average of $19.32 and a 200 day moving average of $18.19. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $41.87. The stock has a market capitalization of $436.12 million, a PE ratio of -0.32 and a beta of 0.56.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Finally, BTIG Research initiated coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.86.

Institutional Trading of Cartesian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RNAC. BNP Paribas Financial Markets grew its holdings 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 worth $27,000 after purchasing an additional 909 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Cartesian Therapeutics during the 2nd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cartesian Therapeutics in the 2nd quarter worth $49,000. JPMorgan Chase & Co. increased its position in shares of Cartesian Therapeutics by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock valued at $4,981,000 after acquiring an additional 2,688 shares during the period. Finally, Geode Capital Management LLC increased its position 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 valued at $2,188,000 after acquiring an additional 2,737 shares during the period. Institutional investors own 86.95% of the company’s stock.

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.