Metin Kurtoglu Sells 34,400 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 34,400 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.39, for a total value of $632,616.00. Following the transaction, the chief technology officer now owns 51,033 shares of the company’s stock, valued at approximately $938,496.87. This trade represents a 40.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, November 14th, Metin Kurtoglu sold 25,900 shares of Cartesian Therapeutics stock. The shares were sold at an average price of $16.44, for a total transaction of $425,796.00.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $17.55 on Wednesday. The firm has a market capitalization of $446.12 million, a PE ratio of -0.36 and a beta of 0.63. The stock’s fifty day moving average is $19.37 and its 200 day moving average is $20.19. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $42.60.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Friday, November 8th. HC Wainwright decreased their price target on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, TD Cowen started coverage on Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Cartesian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $42.33.

Institutional Investors Weigh In On Cartesian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in RNAC. Vanguard Group Inc. bought a new position in Cartesian Therapeutics during the 1st quarter valued at about $4,105,000. Logos Global Management LP purchased a new position in Cartesian Therapeutics during the 2nd quarter valued at $2,431,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the 1st quarter valued at $38,000. American International Group Inc. purchased a new stake in Cartesian Therapeutics in the first quarter worth $37,000. Finally, SG Americas Securities LLC bought a new stake in shares of Cartesian Therapeutics during the first quarter worth $31,000. Hedge funds and other institutional investors 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.