Citadel Advisors LLC Cuts Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Citadel Advisors LLC lessened its holdings in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 315,000 shares of the company's stock after selling 60,767 shares during the period. Citadel Advisors LLC owned approximately 1.24% of Cartesian Therapeutics worth $5,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Virtus ETF Advisers LLC purchased a new position in Cartesian Therapeutics in the 4th quarter worth $63,000. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 acquiring an additional 847 shares during the period. Wells Fargo & Company MN lifted its position in Cartesian Therapeutics by 112.7% during the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company's stock worth $87,000 after acquiring an additional 2,568 shares during the period. Corebridge Financial Inc. lifted its position in Cartesian Therapeutics by 32.6% during the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock worth $92,000 after acquiring an additional 1,258 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Cartesian Therapeutics during the 4th quarter worth about $97,000. Hedge funds and other institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Trading Up 0.1%

Shares of NASDAQ RNAC traded up $0.01 during trading on Friday, reaching $9.16. 53,651 shares of the company traded hands, compared to its average volume of 114,983. The firm's fifty day simple moving average is $11.69 and its 200 day simple moving average is $16.34. The stock has a market cap of $237.74 million, a P/E ratio of -0.17 and a beta of 0.51. Cartesian Therapeutics, Inc. has a 12-month low of $8.85 and a 12-month high of $41.87.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.69 million. As a group, research analysts expect that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on RNAC shares. HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. Needham & Company LLC lowered their price target on 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.50.

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.