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Cartesian Therapeutics Inc [NASDAQ: RNAC] Sees Decrease in Stock Value

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cartesian Therapeutics Inc shares valued at $546,560 were sold by Kurtoglu Metin on Nov 21 ’24. At $16.67 per share, Kurtoglu Metin sold 32,789 shares. The insider’s holdings dropped to 51,033 shares worth approximately $0.91 million following the completion of this transaction.

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Also, Kurtoglu Metin sold 5,700 shares, netting a total of over 98,570 in proceeds. Following the sale of shares at $17.29 each, the insider now holds 51,033 shares.

Before that, Kurtoglu Metin had sold 200 shares from its account. In a trade valued at $3,900, the Chief Technology Officer traded Cartesian Therapeutics Inc shares for $19.50 each. Upon closing the transaction, the insider’s holdings decreased to 200 shares, worth approximately $0.91 million.

As published in their initiating research note from TD Cowen on August 06, 2024, Cartesian Therapeutics Inc [RNAC] has been a Buy. Analysts at Oppenheimer downgraded the stock from ‘”an Outperform”‘ to ‘”a Perform”‘ outlook in a report released in early July. As of June 04, 2024, Oppenheimer has initiated its “an Outperform” rating for RNAC. Earlier on May 24, 2024, Mizuho initiated its rating. Their recommendation was “a Buy” for RNAC stock.

Analyzing RNAC Stock Performance

During the last five days, there has been a surge of approximately 5.73%. Over the course of the year, Cartesian Therapeutics Inc shares have dropped approximately -13.40%. Shares of the company reached a 52-week high of $41.87 on 06/06/24 and a 52-week low of $11.66 on 04/08/24. A 50-day SMA is recorded $19.63, while a 200-day SMA reached $19.95. Nevertheless, trading volume fell to 68502.0 shares from 0.11 million shares the previous day.

Support And Resistance Levels for Cartesian Therapeutics Inc (RNAC)

According to the 24-hour chart, there is a support level at 17.30, which, if violated, would cause prices to drop to 16.69. In the upper region, resistance lies at 18.96. The next price resistance is at 20.01. RSI (Relative Strength Index) is 45.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.16, which suggests the price will decrease in the coming days. Percent R is at 59.56%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of Cartesian Therapeutics Inc (RNAC)?

On April 23, 2024, H.C. Wainwright assigned a price target of “a Buy” to the stock and reiterated coverage with a $54.

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