Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu Sells 2,458 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $41,368.14. Following the completion of the transaction, the chief technology officer now owns 62,258 shares in the company, valued at $1,047,802.14. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Metin Kurtoglu also recently made the following trade(s):

• On Friday, January 3rd, Metin Kurtoglu sold 2,417 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.72, for a total transaction of $40,412.24.
• On Thursday, November 21st, Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.67, for a total value of $546,592.63.
• On Monday, November 18th, Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock. The shares were 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 stock was sold at an average price of $16.44, for a total value of $425,796.00.

Cartesian Therapeutics Stock Down 2.7 %

NASDAQ:RNAC opened at $17.16 on Wednesday. The firm has a market capitalization of $436.12 million, a PE ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $41.87. The firm has a 50-day moving average price of $19.32 and a 200 day moving average price of $18.19.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds have recently modified their holdings of RNAC. JPMorgan Chase & Co. boosted 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 valued at $4,981,000 after buying an additional 2,688 shares in the last quarter. Barclays PLC lifted its holdings in shares of Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after acquiring an additional 7,849 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cartesian Therapeutics by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after purchasing an additional 2,737 shares in the last quarter. State Street Corp grew its holdings 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 during the 3rd quarter worth about $3,224,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.