Northern Trust Corp Increases Stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Northern Trust Corp increased its stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 50.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 95,030 shares of the company's stock after buying an additional 31,915 shares during the period. Northern Trust Corp owned 0.37% of Cartesian Therapeutics worth $1,702,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Cartesian Therapeutics by 63.0% during the 4th quarter. Geode Capital Management LLC now owns 221,257 shares of the company's stock worth $3,963,000 after buying an additional 85,557 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Cartesian Therapeutics by 40.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,803 shares of the company's stock valued at $480,000 after purchasing an additional 7,755 shares during the period. Bank of New York Mellon Corp boosted its holdings in Cartesian Therapeutics by 28.5% in the 4th quarter. Bank of New York Mellon Corp now owns 19,407 shares of the company's stock valued at $348,000 after purchasing an additional 4,305 shares during the period. Barclays PLC boosted its holdings in Cartesian Therapeutics by 64.5% in the 4th quarter. Barclays PLC now owns 19,099 shares of the company's stock valued at $342,000 after purchasing an additional 7,488 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Cartesian Therapeutics in the 4th quarter valued at about $247,000. Institutional investors own 86.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RNAC. Needham & Company LLC lowered their price objective 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. HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Cartesian Therapeutics Stock Down 3.7%

RNAC traded down $0.37 during trading on Friday, reaching $9.64. 17,213 shares of the company were exchanged, compared to its average volume of 114,482. The company's 50-day moving average is $11.17 and its two-hundred day moving average is $16.03. The company has a market cap of $250.07 million, a price-to-earnings ratio of -0.18 and a beta of 0.51. Cartesian Therapeutics, Inc. has a 12-month low of $8.46 and a 12-month high of $41.87.

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

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.