Insider Selling: Cartesian Therapeutics (NASDAQ:RNAC) Insider Sells 3,573 Shares of Stock

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) insider Milos Miljkovic sold 3,573 shares of Cartesian Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $6.82, for a total value of $24,367.86. Following the sale, the insider directly owned 58,820 shares in the company, valued at $401,152.40. This trade represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Cartesian Therapeutics Price Performance

Shares of NASDAQ RNAC traded up $0.33 during midday trading on Thursday, reaching $8.09. 192,454 shares of the stock traded hands, compared to its average volume of 168,971. Cartesian Therapeutics, Inc. has a one year low of $5.98 and a one year high of $20.12. The stock has a market capitalization of $210.44 million, a PE ratio of -5.19 and a beta of 0.38. The company’s 50 day moving average is $7.38 and its 200 day moving average is $9.59.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.57). The company had revenue of $0.45 million during the quarter, compared to the consensus estimate of $0.18 million. As a group, equities analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current year.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. AlphaQuest LLC lifted its position in shares of Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after buying an additional 2,717 shares during the last quarter. Virtus Investment Advisers LLC boosted its stake in shares of Cartesian Therapeutics by 12.5% during the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after buying an additional 1,023 shares during the period. Miller Financial Services LLC acquired a new position in shares of Cartesian Therapeutics in the second quarter valued at approximately $121,000. Bank of America Corp DE increased its stake in Cartesian Therapeutics by 133.0% in the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock valued at $145,000 after buying an additional 7,952 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Cartesian Therapeutics by 27.5% during the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after buying an additional 2,805 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Analyst Ratings Changes

RNAC has been the topic of several analyst reports. Wall Street Zen lowered shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Monday, December 29th. BTIG Research raised their target price on Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, HC Wainwright dropped their target price on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.