Nuveen LLC Purchases Shares of 27,869 Cartesian Therapeutics, Inc. $RNAC

Key Points

• Nuveen LLC has purchased 27,869 shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC), valued at approximately $367,000, representing about 0.11% ownership of the company.
• Cartesian Therapeutics reported a positive earnings surprise, with $0.50 EPS for the quarter, exceeding analyst expectations of ($0.76).
• Analysts maintain a Moderate Buy consensus rating on Cartesian Therapeutics, with a new price target ranging from $38.00 to $40.00.

Nuveen LLC purchased a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 27,869 shares of the company's stock, valued at approximately $367,000. Nuveen LLC owned about 0.11% of Cartesian Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RNAC. MPM Bioimpact LLC increased its stake in Cartesian Therapeutics by 14.6% in the 4th quarter. MPM Bioimpact LLC now owns 721,139 shares of the company's stock valued at $12,916,000 after buying an additional 91,716 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Cartesian Therapeutics by 197.8% in the 4th quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company's stock valued at $1,291,000 after buying an additional 47,889 shares during the last quarter. Northern Trust Corp increased its stake in Cartesian Therapeutics by 50.6% in the 4th quarter. Northern Trust Corp now owns 95,030 shares of the company's stock valued at $1,702,000 after buying an additional 31,915 shares during the last quarter. Barclays PLC grew its position in shares of 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 acquiring an additional 7,488 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of Cartesian Therapeutics in the 4th quarter valued at about $119,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Stock Performance

NASDAQ RNAC opened at $10.64 on Friday. The firm has a 50-day moving average of $11.68 and a 200-day moving average of $12.25. The stock has a market cap of $276.64 million, a PE ratio of -0.20 and a beta of 0.39. Cartesian Therapeutics, Inc. has a 52-week low of $8.46 and a 52-week high of $26.50.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $1.26. The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.77 million. As a group, analysts predict that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wedbush assumed coverage on shares of Cartesian Therapeutics in a research report on Wednesday, July 9th. They issued an "outperform" rating and a $38.00 price objective for the company. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

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.

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