Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,803 shares of the company’s stock after acquiring an additional 7,755 shares during the period. Charles Schwab Investment Management Inc. owned 0.11% of Cartesian Therapeutics worth $480,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RNAC. FMR LLC boosted its position in Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after purchasing an additional 2,341,054 shares during the period. Barclays PLC lifted its stake in Cartesian Therapeutics by 208.6% in the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Cartesian Therapeutics during the fourth quarter valued at $97,000. Bank of New York Mellon Corp grew its position in shares of Cartesian Therapeutics by 28.5% during the fourth quarter. Bank of New York Mellon Corp now owns 19,407 shares of the company’s stock worth $348,000 after acquiring an additional 4,305 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Cartesian Therapeutics by 2.5% in the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after acquiring an additional 3,830 shares during the period. 86.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RNAC has been the subject of a number of analyst reports. BTIG Research began coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 target price for the company. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a report on Thursday, March 13th. Finally, HC Wainwright cut their target price on Cartesian Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and eight 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 $42.14.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC opened at $13.18 on Tuesday. The stock has a market cap of $341.45 million, a price-to-earnings ratio of -0.25 and a beta of 0.71. Cartesian Therapeutics, Inc. has a 12 month low of $11.67 and a 12 month high of $41.87. The stock’s 50 day moving average price is $17.91 and its 200 day moving average price is $18.83.

Insider Activity

In other news, CFO Blaine Davis sold 4,028 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,595,669.13. This trade represents a 4.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Metin Kurtoglu sold 2,417 shares of Cartesian Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total transaction of $40,412.24. Following the completion of the transaction, the chief technology officer now directly owns 64,716 shares in the company, valued at $1,082,051.52. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,744 shares of company stock worth $247,337. 57.90% of the stock is owned by company insiders.

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.