Geode Capital Management LLC Boosts Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Geode Capital Management LLC lifted its holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 63.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 221,257 shares of the company's stock after purchasing an additional 85,557 shares during the quarter. Geode Capital Management LLC owned 0.87% of Cartesian Therapeutics worth $3,963,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RNAC. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cartesian Therapeutics by 22.8% during 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. Rhumbline Advisers lifted its stake in Cartesian Therapeutics by 10.0% in the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company's stock worth $183,000 after purchasing an additional 927 shares during the last quarter. Corebridge Financial Inc. boosted its position in shares of Cartesian Therapeutics by 32.6% during the fourth 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. JPMorgan Chase & Co. grew its stake in shares of Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company's stock valued at $4,981,000 after buying an additional 2,688 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company's stock worth $2,539,000 after buying an additional 3,830 shares during the period. 86.95% of the stock is currently owned by institutional investors.

Cartesian Therapeutics Stock Up 0.5 %

Shares of Cartesian Therapeutics stock traded up $0.06 during midday trading on Friday, hitting $12.33. The company had a trading volume of 10,734 shares, compared to its average volume of 115,172. Cartesian Therapeutics, Inc. has a 12-month low of $8.85 and a 12-month high of $41.87. The company has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $17.55. The stock has a market cap of $319.43 million, a price-to-earnings ratio of -0.23 and a beta of 0.55.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $40.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Needham & Company LLC restated a "buy" rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.67.

About Cartesian Therapeutics

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.