683 Capital Management LLC Has $2.24 Million Stock Holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

683 Capital Management LLC boosted its position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 65.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,000 shares of the company's stock after acquiring an additional 49,569 shares during the period. 683 Capital Management LLC owned 0.49% of Cartesian Therapeutics worth $2,239,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Virtus ETF Advisers LLC bought a new stake in shares of Cartesian Therapeutics during the fourth quarter valued at approximately $63,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cartesian Therapeutics by 22.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company's stock valued at $82,000 after buying an additional 847 shares during the period. Wells Fargo & Company MN raised its stake in shares of Cartesian Therapeutics by 112.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company's stock valued at $87,000 after buying an additional 2,568 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Cartesian Therapeutics by 32.6% during the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock worth $92,000 after acquiring an additional 1,258 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Cartesian Therapeutics during the 4th quarter valued at about $97,000. 86.95% of the stock is currently owned by institutional investors.

Cartesian Therapeutics Price Performance

Shares of RNAC stock traded down $0.26 during trading hours on Monday, hitting $12.44. 43,424 shares of the company's stock were exchanged, compared to its average volume of 114,881. The stock's 50-day moving average is $13.82 and its 200-day moving average is $17.43. Cartesian Therapeutics, Inc. has a 52 week low of $8.85 and a 52 week high of $41.87. The stock has a market cap of $322.66 million, a price-to-earnings ratio of -0.24 and a beta of 0.51.

Analyst Upgrades and Downgrades

RNAC has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. HC Wainwright reissued a "buy" rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Cartesian Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $42.67.

Cartesian Therapeutics 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.