Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $546,592.63 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 32,789 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $16.67, for a total value of $546,592.63. Following the transaction, the chief technology officer now owns 51,033 shares in the company, valued at $850,720.11. This trade represents a 39.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 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 shares were sold at an average price of $16.44, for a total value of $425,796.00.

Cartesian Therapeutics Stock Performance

Shares of RNAC traded down $0.32 on Thursday, hitting $16.62. 94,138 shares of the stock traded hands, compared to its average volume of 95,843. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $42.60. The company has a market capitalization of $422.48 million, a PE ratio of -0.32 and a beta of 0.63. The business has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $20.11.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. purchased a new stake in shares of Cartesian Therapeutics during the first quarter valued at $4,105,000. Logos Global Management LP purchased a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at about $2,431,000. BNP Paribas Financial Markets bought a new stake in shares of Cartesian Therapeutics in the first quarter worth approximately $38,000. American International Group Inc. bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth approximately $37,000. Finally, SG Americas Securities LLC purchased a new position in shares of Cartesian Therapeutics during the 1st quarter worth $31,000. Institutional investors own 86.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RNAC shares. Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Friday, November 8th. TD Cowen initiated coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They issued a “buy” rating on the stock. Finally, HC Wainwright reduced their price objective on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a research 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, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

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.