683 Capital Management LLC Increases Stake in Cartesian Therapeutics, Inc. $RNAC

683 Capital Management LLC lifted its position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 46.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,000 shares of the company’s stock after acquiring an additional 69,000 shares during the quarter. 683 Capital Management LLC’s holdings in Cartesian Therapeutics were worth $2,275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MPM Bioimpact LLC increased its position in Cartesian Therapeutics by 9.7% during the 1st quarter. MPM Bioimpact LLC now owns 790,779 shares of the company’s stock valued at $10,422,000 after purchasing an additional 69,640 shares during the period. Erste Asset Management GmbH lifted its position in shares of Cartesian Therapeutics by 49.8% in the 1st quarter. Erste Asset Management GmbH now owns 260,011 shares of the company’s stock worth $3,432,000 after purchasing an additional 86,445 shares during the period. Marshall Wace LLP boosted its stake in shares of Cartesian Therapeutics by 114.0% during the second quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock valued at $859,000 after purchasing an additional 44,025 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cartesian Therapeutics by 9.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,303 shares of the company’s stock valued at $386,000 after buying an additional 2,500 shares during the period. Finally, Nuveen LLC purchased a new position in Cartesian Therapeutics during the first quarter valued at approximately $367,000. 86.95% of the stock is currently owned by institutional investors.

Cartesian Therapeutics Trading Up 0.8%

Shares of RNAC stock opened at $8.52 on Friday. Cartesian Therapeutics, Inc. has a 12-month low of $5.98 and a 12-month high of $20.71. The business’s fifty day simple moving average is $8.16 and its 200-day simple moving average is $9.95. The company has a market cap of $221.52 million, a PE ratio of -5.46 and a beta of 0.36.

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

Analysts Set New Price Targets

A number of research firms have weighed in on RNAC. Wall Street Zen lowered Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. HC Wainwright reduced their price target on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. BTIG Research upped their price objective on Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.