MPM Bioimpact LLC Grows Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

MPM Bioimpact LLC boosted its stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 721,139 shares of the company's stock after buying an additional 91,716 shares during the period. Cartesian Therapeutics makes up approximately 1.8% of MPM Bioimpact LLC's portfolio, making the stock its 22nd biggest position. MPM Bioimpact LLC owned about 2.84% of Cartesian Therapeutics worth $12,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtus ETF Advisers LLC purchased a new stake in Cartesian Therapeutics in the 4th quarter valued at about $63,000. Mirae Asset Global Investments Co. Ltd. raised 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 holdings in 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 during the period. Corebridge Financial Inc. raised its holdings in Cartesian Therapeutics by 32.6% in the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock valued at $92,000 after buying an additional 1,258 shares during the period. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Cartesian Therapeutics in the 4th quarter valued at about $97,000. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

Cartesian Therapeutics Price Performance

Shares of RNAC stock traded down $0.23 during trading hours on Monday, reaching $10.04. 24,504 shares of the stock were exchanged, compared to its average volume of 115,653. The business's fifty day moving average is $12.31 and its two-hundred day moving average is $16.64. Cartesian Therapeutics, Inc. has a 12-month low of $8.85 and a 12-month high of $41.87. The firm has a market capitalization of $260.45 million, a P/E ratio of -0.19 and a beta of 0.51.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.07). The company had revenue of $1.10 million for the quarter, compared to analysts' expectations of $0.69 million. As a group, equities research analysts predict that Cartesian Therapeutics, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RNAC. HC Wainwright reiterated a "buy" rating and set a $40.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Needham & Company LLC cut their price target on shares of Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $42.50.

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.