Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $40,412.24 in 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 transaction of $40,412.24. Following the completion of the sale, the chief technology officer now owns 64,716 shares in the company, valued at $1,082,051.52. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $16.83, for a total value 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 value 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 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 transaction of $425,796.00.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ RNAC traded down $0.47 during trading on Tuesday, reaching $17.16. The stock had a trading volume of 105,686 shares, compared to its average volume of 132,021. The company has a market cap of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56. The business’s 50-day moving average price is $19.32 and its 200-day moving average price is $18.19. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $41.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after buying an additional 2,688 shares in the last quarter. Barclays PLC lifted its holdings in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after buying an additional 7,849 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cartesian Therapeutics by 2.1% in the 3rd 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 last quarter. State Street Corp raised its position 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 worth $2,539,000 after acquiring an additional 3,830 shares in the last quarter. Finally, Great Point Partners LLC purchased a new stake in Cartesian Therapeutics during the third quarter worth approximately $3,224,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RNAC has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, December 3rd. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Finally, 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 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.86.

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.