Mirae Asset Global Investments Co. Ltd. Has $82,000 Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Mirae Asset Global Investments Co. Ltd. raised its position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,562 shares of the company’s stock after buying an additional 847 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cartesian Therapeutics were worth $82,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after acquiring an additional 909 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Cartesian Therapeutics during the 4th quarter worth approximately $97,000. Barclays PLC increased its holdings in shares of Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after purchasing an additional 7,849 shares during the period. Geode Capital Management LLC raised its position in shares of Cartesian Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after buying an additional 2,737 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after buying an additional 3,830 shares during the period. 86.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Blaine Davis sold 4,028 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $67,791.24. Following the completion of the transaction, the chief financial officer now owns 94,811 shares of the company’s stock, valued at approximately $1,595,669.13. This trade represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Metin Kurtoglu sold 34,400 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.39, for a total value of $632,616.00. Following the transaction, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at approximately $938,496.87. This represents a 40.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,933 shares of company stock worth $1,426,546. Insiders own 57.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on RNAC shares. BTIG Research started coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, January 28th. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.86.

Cartesian Therapeutics Price Performance

RNAC stock opened at $19.67 on Friday. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $41.87. The stock has a market cap of $499.91 million, a price-to-earnings ratio of -0.37 and a beta of 0.61. The company has a 50 day simple moving average of $19.10 and a 200 day simple moving average of $18.12.

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.