Northern Trust Corp Has $1.70 Million Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Northern Trust Corp grew its position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 50.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,030 shares of the company's stock after buying an additional 31,915 shares during the quarter. Northern Trust Corp owned 0.37% of Cartesian Therapeutics worth $1,702,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Cartesian Therapeutics by 40.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,803 shares of the company's stock worth $480,000 after purchasing an additional 7,755 shares during the period. Geode Capital Management LLC grew its holdings in Cartesian Therapeutics by 63.0% during the 4th quarter. Geode Capital Management LLC now owns 221,257 shares of the company's stock valued at $3,963,000 after purchasing an additional 85,557 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Cartesian Therapeutics by 28.5% during the 4th quarter. Bank of New York Mellon Corp now owns 19,407 shares of the company's stock worth $348,000 after acquiring an additional 4,305 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Cartesian Therapeutics during the 4th quarter worth $119,000. Finally, Renaissance Technologies LLC acquired a new position in Cartesian Therapeutics during the 4th quarter worth $247,000. Hedge funds and other institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Price Performance

RNAC stock traded down $0.44 during trading hours on Friday, reaching $9.56. The stock had a trading volume of 41,970 shares, compared to its average volume of 114,724. The stock has a market capitalization of $248.12 million, a PE ratio of -0.18 and a beta of 0.51. The stock has a 50-day simple moving average of $11.04 and a 200 day simple moving average of $15.97. Cartesian Therapeutics, Inc. has a fifty-two week low of $8.46 and a fifty-two week high of $41.87.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last posted its 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 firm had revenue of $1.10 million for the quarter, compared to the consensus estimate of $0.69 million. On average, sell-side analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on RNAC. HC Wainwright reiterated a "buy" rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a research report 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 report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.