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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 932 shares of Cartesian Therapeutics stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $15,583.04. Following the completion of the transaction, the insider now owns 36,341 shares of the company’s stock, valued at $607,621.52. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value 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 value of $564,550.00.

Cartesian Therapeutics Stock Performance

RNAC opened at $16.92 on Thursday. The company has a fifty day moving average price of $19.13 and a two-hundred day moving average price of $18.14. The firm has a market capitalization of $430.02 million, a PE ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 52 week low of $11.66 and a 52 week high of $41.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after buying an additional 909 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at approximately $49,000. Barclays PLC boosted its stake 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 during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Cartesian Therapeutics during the second quarter valued at approximately $351,000. 86.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RNAC has been the subject of a number of research analyst reports. BTIG Research initiated coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target for the company. 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 set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and a consensus 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.