Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Sells $40,412.24 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,417 shares of the firm’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 $40,412.24. Following the completion of the sale, the chief technology officer now owns 64,716 shares of the company’s stock, valued at $1,082,051.52. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, January 6th, Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.83, for a total transaction of $41,368.14.
• 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 transaction 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 Performance

Shares of NASDAQ RNAC opened at $16.92 on Friday. Cartesian Therapeutics, Inc. has a 52-week low of $11.66 and a 52-week high of $41.87. The stock has a market cap of $430.02 million, a P/E ratio of -0.32 and a beta of 0.56. The firm has a 50 day moving average price of $19.08 and a 200 day moving average price of $18.13.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RNAC. Logos Global Management LP acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth $2,431,000. FMR LLC increased its holdings in shares of Cartesian Therapeutics by 458.3% in the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after acquiring an additional 2,341,054 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Cartesian Therapeutics during the second quarter worth about $811,000. BNP Paribas Financial Markets raised its position in shares of Cartesian Therapeutics by 122.5% during 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. Finally, State Street Corp lifted its holdings in shares of Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after purchasing an additional 3,830 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

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