Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Milos Miljkovic Sells 948 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of Cartesian Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $15,954.84. Following the transaction, the insider now directly owns 35,393 shares in the company, valued at $595,664.19. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Milos Miljkovic also recently made the following trade(s):

• On Friday, January 3rd, Milos Miljkovic sold 932 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.72, for a total transaction of $15,583.04.
• On Thursday, November 14th, Milos Miljkovic sold 35,000 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.13, for a total value of $564,550.00.

Cartesian Therapeutics Price Performance

Shares of NASDAQ RNAC traded down $0.47 during mid-day trading on Tuesday, hitting $17.16. 105,686 shares of the stock traded hands, compared to its average volume of 132,021. The firm has a 50 day simple moving average of $19.32 and a two-hundred day simple moving average of $18.19. The company has a market cap of $436.12 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.

Analysts Set New Price Targets

Several analysts have issued reports on RNAC shares. BTIG Research assumed coverage on shares of Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price target on the stock. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $42.86.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RNAC. BNP Paribas Financial Markets increased 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 buying an additional 909 shares during the period. Point72 DIFC Ltd acquired a new position in Cartesian Therapeutics in the second quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cartesian Therapeutics in the second quarter worth approximately $49,000. Barclays PLC lifted its position in shares of Cartesian Therapeutics by 208.6% during the 3rd 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 period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cartesian Therapeutics during the second quarter valued at about $351,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.