Milos Miljkovic Sells 3,573 Shares of Cartesian Therapeutics (NASDAQ:RNAC) 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 transaction of $24,367.86. Following the transaction, the insider directly owned 58,820 shares of the company’s stock, valued at approximately $401,152.40. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cartesian Therapeutics Price Performance

RNAC opened at $8.20 on Friday. The firm has a fifty day moving average price of $7.38 and a 200 day moving average price of $9.57. Cartesian Therapeutics, Inc. has a 1 year low of $5.98 and a 1 year high of $20.12. The stock has a market cap of $213.20 million, a P/E ratio of -5.26 and a beta of 0.38.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RNAC shares. Needham & Company LLC increased their price target on Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Monday, December 29th. HC Wainwright decreased their target price on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Wall Street Zen cut shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, BTIG Research boosted their price target on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $38.50.

Hedge Funds Weigh In On Cartesian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaQuest LLC boosted its stake in shares of Cartesian Therapeutics by 64.6% in the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after acquiring an additional 2,717 shares during the last quarter. Virtus Investment Advisers LLC lifted its holdings in Cartesian Therapeutics by 12.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock valued at $95,000 after purchasing an additional 1,023 shares in the last quarter. Miller Financial Services LLC acquired a new stake in Cartesian Therapeutics during the 2nd quarter worth $121,000. Bank of America Corp DE grew its holdings in shares of Cartesian Therapeutics by 133.0% during the second quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock worth $145,000 after buying an additional 7,952 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Cartesian Therapeutics by 27.5% during the first 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. Hedge funds and other institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.