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

MPM Bioimpact LLC lifted its holdings in shares of 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 SEC. The fund owned 721,139 shares of the company's stock after purchasing an additional 91,716 shares during the period. Cartesian Therapeutics comprises about 1.8% of MPM Bioimpact LLC's investment portfolio, making the stock its 22nd biggest position. MPM Bioimpact LLC owned 2.84% of Cartesian Therapeutics worth $12,916,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RNAC. Virtus ETF Advisers LLC purchased a new stake in Cartesian Therapeutics during the 4th quarter valued at $63,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 worth $82,000 after purchasing an additional 847 shares during the period. Wells Fargo & Company MN lifted its position 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 worth $87,000 after purchasing an additional 2,568 shares during the period. Corebridge Financial Inc. lifted its position in shares of Cartesian Therapeutics by 32.6% in the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock worth $92,000 after purchasing an additional 1,258 shares during the period. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Cartesian Therapeutics in the 4th quarter worth about $97,000. Institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Price Performance

NASDAQ RNAC traded down $0.17 during trading hours on Friday, reaching $10.26. 42,096 shares of the company's stock traded hands, compared to its average volume of 116,015. Cartesian Therapeutics, Inc. has a 52-week low of $8.85 and a 52-week high of $41.87. The firm has a market cap of $266.29 million, a PE ratio of -0.19 and a beta of 0.51. The firm has a 50-day simple moving average of $12.31 and a 200 day simple moving average of $16.66.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share (EPS) 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 the consensus estimate of $0.69 million. Sell-side analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RNAC shares. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. Needham & Company LLC dropped their target price on shares of Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.50.

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.