Nuveen Asset Management LLC Acquires 47,889 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Nuveen Asset Management LLC boosted its stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 197.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,099 shares of the company's stock after buying 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 large investors also recently made changes to their positions in RNAC. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cartesian Therapeutics by 22.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company's stock valued at $82,000 after buying an additional 847 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Cartesian Therapeutics by 10.0% in the 4th quarter. Rhumbline Advisers now owns 10,201 shares of the company's stock valued at $183,000 after buying an additional 927 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 4,305 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 7,755 shares in the last quarter. Finally, Corebridge Financial Inc. grew its stake in shares of Cartesian Therapeutics by 32.6% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 86.95% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on RNAC. 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 note on Thursday, May 8th. HC Wainwright reissued a "buy" rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cartesian Therapeutics has an average rating of "Moderate Buy" and an average target price of $43.00.

Cartesian Therapeutics Trading Up 18.1%

Cartesian Therapeutics stock traded up $1.69 during trading hours on Friday, reaching $11.03. 100,183 shares of the company were exchanged, compared to its average volume of 114,750. The firm has a market cap of $286.27 million, a price-to-earnings ratio of -0.21 and a beta of 0.33. The stock has a 50-day moving average of $10.65 and a 200 day moving average of $15.71. Cartesian Therapeutics, Inc. has a 12 month low of $8.46 and a 12 month high of $36.80.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last announced 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 business had revenue of $1.10 million during the quarter, compared to analysts' expectations of $0.69 million. As a group, research analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current year.

Cartesian Therapeutics Company 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.