Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells $15,583.04 in Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 932 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total transaction of $15,583.04. Following the transaction, the insider now owns 36,341 shares of the company’s stock, valued at approximately $607,621.52. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Milos Miljkovic also recently made the following trade(s):

• On Monday, January 6th, Milos Miljkovic sold 948 shares of Cartesian Therapeutics stock. The stock was 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 shares were sold at an average price of $16.13, for a total value of $564,550.00.

Cartesian Therapeutics Price Performance

RNAC opened at $16.92 on Friday. The stock has a market capitalization of $430.02 million, a P/E ratio of -0.32 and a beta of 0.56. The company’s 50 day simple moving average is $19.08 and its 200-day simple moving average is $18.13. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $41.87.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RNAC. 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 acquiring an additional 909 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Cartesian Therapeutics in the second quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cartesian Therapeutics during the 2nd quarter worth about $49,000. Barclays PLC lifted its position in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after purchasing an additional 7,849 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at about $351,000. 86.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on RNAC shares. Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, December 3rd. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 target price (up 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.