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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $41,368.14. Following the sale, the chief technology officer now owns 62,258 shares of the company’s stock, valued at approximately $1,047,802.14. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Trading Down 1.4 %

Cartesian Therapeutics stock opened at $16.92 on Friday. The stock has a market cap of $430.02 million, a P/E ratio of -0.32 and a beta of 0.56. The company has a fifty day simple moving average of $19.08 and a 200-day simple moving average of $18.13. Cartesian Therapeutics, Inc. has a 12-month low of $11.66 and a 12-month high of $41.87.

Wall Street Analyst Weigh In

RNAC has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. 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 issued a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Finally, BTIG Research assumed coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after acquiring an additional 909 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Cartesian Therapeutics in the second quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cartesian Therapeutics during the second quarter worth approximately $49,000. Barclays PLC lifted its position in shares of 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 buying an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at $351,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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.