Metin Kurtoglu Sells 2,417 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) CTO Metin Kurtoglu sold 2,417 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $40,412.24. Following the transaction, the chief technology officer now directly owns 64,716 shares in the company, valued at $1,082,051.52. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 stock was 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 transaction 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 %

RNAC stock opened at $16.92 on Thursday. Cartesian Therapeutics, Inc. has a one year low of $11.66 and a one year high of $41.87. The firm has a 50-day moving average of $19.13 and a two-hundred day moving average of $18.14. The firm has a market capitalization of $430.02 million, a PE ratio of -0.32 and a beta of 0.56.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RNAC shares. BTIG Research started coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 price target for the company. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. HC Wainwright reaffirmed a “buy” rating and set a $45.00 target price (up from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $42.86.

Institutional Trading of Cartesian Therapeutics

Hedge funds have recently modified their holdings of the business. FMR LLC raised its position 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 period. JPMorgan Chase & Co. increased its holdings in shares of Cartesian Therapeutics by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock valued at $4,981,000 after purchasing an additional 2,688 shares during the period. Great Point Partners LLC purchased a new stake in shares of Cartesian Therapeutics in the third quarter worth approximately $3,224,000. State Street Corp boosted its holdings in shares of Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after purchasing an additional 3,830 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cartesian Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after purchasing an additional 2,737 shares during the period. Hedge funds and other 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.