Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu Sells 32,789 Shares

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 32,789 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $16.67, for a total transaction of $546,592.63. Following the sale, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at approximately $850,720.11. This represents a 39.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value 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 value of $425,796.00.

Cartesian Therapeutics Trading Up 5.2 %

NASDAQ:RNAC traded up $0.87 during mid-day trading on Friday, reaching $17.49. 18,264 shares of the stock were exchanged, compared to its average volume of 95,501. The business has a fifty day moving average price of $19.46 and a 200 day moving average price of $20.09. The firm has a market capitalization of $444.51 million, a PE ratio of -0.31 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $42.60.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RNAC shares. TD Cowen assumed coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a report on Friday, November 8th. Finally, 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 report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RNAC. Artal Group S.A. acquired a new position in shares of Cartesian Therapeutics in the 1st quarter worth $5,939,000. Vanguard Group Inc. purchased a new stake in shares of Cartesian Therapeutics in the first quarter worth approximately $4,105,000. FMR LLC lifted its position in Cartesian Therapeutics by 458.3% in the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after buying an additional 2,341,054 shares in the last quarter. Great Point Partners LLC acquired a new stake in Cartesian Therapeutics during the third quarter valued at $3,224,000. Finally, State Street Corp lifted its holdings in shares of Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after buying an additional 3,830 shares during the last quarter. 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.