Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells $15,954.84 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $15,954.84. Following the completion of the transaction, the insider now owns 35,393 shares in the company, valued at approximately $595,664.19. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $16.13, for a total transaction of $564,550.00.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $16.92 on Friday. The stock has a market cap of $430.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $41.87. The business’s 50-day simple moving average is $19.08 and its 200 day simple moving average is $18.13.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors have recently made changes to their positions in RNAC. 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 grew 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 acquiring an additional 7,849 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cartesian Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after acquiring an additional 2,737 shares in the last quarter. State Street Corp increased its position in shares of Cartesian Therapeutics by 2.5% in the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after purchasing an additional 3,830 shares during the last quarter. Finally, Great Point Partners LLC acquired a new stake in shares of Cartesian Therapeutics in the 3rd quarter valued at about $3,224,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.