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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 948 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $15,954.84. Following the transaction, the insider now directly owns 35,393 shares of the company’s stock, valued at $595,664.19. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, January 3rd, Milos Miljkovic sold 932 shares of Cartesian Therapeutics stock. The shares were 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 stock was sold at an average price of $16.13, for a total transaction of $564,550.00.

Cartesian Therapeutics Price Performance

Shares of Cartesian Therapeutics stock opened at $17.16 on Wednesday. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $41.87. The company has a market capitalization of $436.12 million, a price-to-earnings ratio of -0.32 and a beta of 0.56. The business has a fifty day simple moving average of $19.22 and a two-hundred day simple moving average of $18.15.

Institutional Trading of Cartesian Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RNAC. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 2,688 shares during the period. Barclays PLC increased its stake in shares of Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after purchasing an additional 7,849 shares during the period. Geode Capital Management LLC increased its stake 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. State Street Corp lifted its holdings in Cartesian Therapeutics by 2.5% during the 3rd 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. Finally, Great Point Partners LLC bought a new stake in Cartesian Therapeutics in the 3rd quarter valued at $3,224,000. Institutional investors own 86.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. BTIG Research started coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They set 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 research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.86.

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.