Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Milos Miljkovic Sells 932 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 932 shares of the company’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 $15,583.04. Following the transaction, the insider now owns 36,341 shares in the company, valued at $607,621.52. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, January 6th, Milos Miljkovic sold 948 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.83, for a total transaction of $15,954.84.
• 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 transaction of $564,550.00.

Cartesian Therapeutics Stock Down 2.7 %

NASDAQ RNAC opened at $17.16 on Wednesday. Cartesian Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $41.87. The company has a market capitalization of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56. The stock’s 50-day moving average price is $19.22 and its 200-day moving average price is $18.15.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position 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 period. Point72 DIFC Ltd purchased a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics in the 2nd quarter worth $49,000. JPMorgan Chase & Co. increased its stake in Cartesian Therapeutics by 0.9% in the 3rd 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. Finally, Geode Capital Management LLC increased its stake in Cartesian Therapeutics by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after buying an additional 2,737 shares in the last quarter. 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.