Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells 35,000 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 35,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the transaction, the insider now directly owns 18,273 shares in the company, valued at approximately $294,743.49. This trade represents a 65.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cartesian Therapeutics Stock Performance

Shares of RNAC opened at $16.94 on Thursday. The stock has a 50 day simple moving average of $19.42 and a 200 day simple moving average of $20.13. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $42.60. The firm has a market capitalization of $430.61 million, a PE ratio of -0.33 and a beta of 0.63.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RNAC. BNP Paribas Financial Markets lifted its position in Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after acquiring an additional 909 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cartesian Therapeutics in the second quarter valued at about $49,000. Geode Capital Management LLC boosted its position in shares of Cartesian Therapeutics by 2.1% during the third 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 during the period. Finally, State Street Corp grew its holdings in shares of Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after buying an additional 3,830 shares in the last quarter. Institutional investors and hedge funds 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.