Insider Selling: Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Insider Sells 948 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $15,954.84. Following the transaction, the insider now owns 35,393 shares in the company, valued at approximately $595,664.19. The trade was a 2.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, January 3rd, Milos Miljkovic sold 932 shares of Cartesian Therapeutics stock. The stock was sold at an average price of $16.72, for a total value of $15,583.04.
• 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 Trading Down 2.7 %

RNAC opened at $17.16 on Wednesday. The company’s 50 day moving average is $19.22 and its 200-day moving average is $18.15. The company has a market cap of $436.12 million, a P/E ratio of -0.32 and a beta of 0.56. Cartesian Therapeutics, Inc. has a 1-year low of $11.66 and a 1-year high of $41.87.

Institutional Trading of Cartesian Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Logos Global Management LP bought a new position in shares of Cartesian Therapeutics in the 2nd quarter valued at $2,431,000. FMR LLC increased its holdings in Cartesian Therapeutics by 458.3% in the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after purchasing an additional 2,341,054 shares in the last quarter. Marshall Wace LLP bought a new position in Cartesian Therapeutics in the second quarter valued at about $811,000. BNP Paribas Financial Markets boosted its stake 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 valued at $27,000 after purchasing an additional 909 shares in the last quarter. Finally, State Street Corp grew 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 last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.