Nuveen Asset Management LLC Increases Stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Nuveen Asset Management LLC lifted its holdings in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 197.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,099 shares of the company's stock after purchasing an additional 47,889 shares during the period. Nuveen Asset Management LLC owned about 0.28% of Cartesian Therapeutics worth $1,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Cartesian Therapeutics by 22.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company's stock worth $82,000 after buying an additional 847 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Cartesian Therapeutics by 10.0% during the 4th quarter. Rhumbline Advisers now owns 10,201 shares of the company's stock worth $183,000 after acquiring an additional 927 shares during the period. Corebridge Financial Inc. increased its holdings in 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 acquiring an additional 1,258 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cartesian Therapeutics by 44.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company's stock valued at $104,000 after acquiring an additional 1,789 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Cartesian Therapeutics by 112.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company's stock valued at $87,000 after acquiring an additional 2,568 shares during the period. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Stock Up 18.1%

NASDAQ:RNAC traded up $1.69 during mid-day trading on Friday, hitting $11.03. 100,183 shares of the stock traded hands, compared to its average volume of 114,445. The business's 50-day moving average price is $10.68 and its 200 day moving average price is $15.76. The company has a market cap of $286.27 million, a PE ratio of -0.21 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 announced its earnings results 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 company had revenue of $1.10 million for the quarter, compared to analyst estimates of $0.69 million. Analysts anticipate that Cartesian Therapeutics, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on RNAC shares. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. Needham & Company LLC cut their price target on Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cartesian Therapeutics presently has an average rating of "Moderate Buy" and an average 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.