Metin Kurtoglu Sells 25,900 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 25,900 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $16.44, for a total value of $425,796.00. Following the completion of the sale, the chief technology officer now directly owns 51,033 shares in the company, valued at approximately $838,982.52. This represents a 33.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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.

Cartesian Therapeutics Price Performance

NASDAQ RNAC opened at $17.55 on Wednesday. The stock has a market capitalization of $446.12 million, a price-to-earnings ratio of -0.36 and a beta of 0.63. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $42.60. The business’s fifty day moving average price is $19.37 and its 200-day moving average price is $20.19.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Artal Group S.A. bought a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at about $5,939,000. Vanguard Group Inc. bought a new stake in Cartesian Therapeutics during the first quarter valued at approximately $4,105,000. FMR LLC increased its holdings in Cartesian Therapeutics by 458.3% during the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after buying an additional 2,341,054 shares during the last quarter. Great Point Partners LLC purchased a new stake in Cartesian Therapeutics during the third quarter valued at approximately $3,224,000. Finally, State Street Corp raised its position in Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after acquiring an additional 3,830 shares during the period. Institutional investors own 86.95% of the company’s stock.

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.