Geode Capital Management LLC Raises Stock Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Geode Capital Management LLC boosted its stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,700 shares of the company’s stock after buying an additional 2,737 shares during the period. Geode Capital Management LLC owned 0.53% of Cartesian Therapeutics worth $2,188,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RNAC. FMR LLC raised its position in shares of Cartesian Therapeutics by 458.3% in the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after acquiring an additional 2,341,054 shares in the last quarter. Great Point Partners LLC purchased a new stake in Cartesian Therapeutics in the third quarter worth $3,224,000. State Street Corp raised its holdings in Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after purchasing an additional 3,830 shares in the last quarter. Logos Global Management LP purchased a new position in Cartesian Therapeutics during the second quarter valued at $2,431,000. Finally, Marshall Wace LLP bought a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at $811,000. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Trading Down 2.7 %

Shares of RNAC opened at $17.16 on Wednesday. The business’s fifty day simple moving average is $19.32 and its two-hundred day simple moving average is $18.19. Cartesian Therapeutics, Inc. has a 12 month low of $11.66 and a 12 month high of $41.87. The company has a market cap of $436.12 million, a price-to-earnings ratio of -0.32 and a beta of 0.56.

Analyst Ratings Changes

A number of research analysts recently issued reports on RNAC shares. HC Wainwright reissued a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. BTIG Research began coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Two investment 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.com, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $42.86.

Insider Buying and Selling at Cartesian Therapeutics

In other news, CTO Metin Kurtoglu sold 25,900 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.44, for a total transaction of $425,796.00. Following the transaction, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at $838,982.52. This represents a 33.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Milos Miljkovic sold 35,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the transaction, the insider now directly owns 18,273 shares in the company, valued at approximately $294,743.49. This represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,833 shares of company stock worth $2,416,892. Insiders own 57.90% of the company’s stock.

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.