Logos Global Management LP Invests $2.43 Million in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Logos Global Management LP purchased a new position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 90,000 shares of the company’s stock, valued at approximately $2,431,000. Logos Global Management LP owned about 0.42% of Cartesian Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RNAC. SG Americas Securities LLC bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at $31,000. American International Group Inc. purchased a new stake in Cartesian Therapeutics during the 1st quarter valued at $37,000. BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics during the 1st quarter valued at $38,000. Delphi Financial Group Inc. purchased a new stake in shares of Cartesian Therapeutics in the 1st quarter worth about $430,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of Cartesian Therapeutics in the 2nd quarter worth about $855,000. Institutional investors own 86.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC reduced their price target on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Canaccord Genuity Group raised their price objective on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. TD Cowen started coverage on shares of Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of Cartesian Therapeutics in a report on Friday, September 13th. Finally, Oppenheimer downgraded shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.00.

Insiders Place Their Bets

In related news, Director Timothy A. Springer purchased 8,016 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $12.72 per share, with a total value of $101,963.52. Following the purchase, the director now owns 11,509 shares of the company’s stock, valued at $146,394.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 61.10% of the stock is currently owned by insiders.

Cartesian Therapeutics Price Performance

Shares of RNAC opened at $14.87 on Tuesday. Cartesian Therapeutics, Inc. has a twelve month low of $11.66 and a twelve month high of $42.60. The company’s fifty day simple moving average is $15.05 and its 200-day simple moving average is $19.78.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $1.35. The business had revenue of $33.45 million for the quarter, compared to the consensus estimate of $6.00 million. On average, research analysts expect that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current year.

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.