MetLife Investment Management LLC Purchases Shares of 6,667 Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

MetLife Investment Management LLC purchased a new position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,667 shares of the company’s stock, valued at approximately $119,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Cartesian Therapeutics by 40.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,803 shares of the company’s stock worth $480,000 after acquiring an additional 7,755 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cartesian Therapeutics by 63.0% in the fourth quarter. Geode Capital Management LLC now owns 221,257 shares of the company’s stock valued at $3,963,000 after purchasing an additional 85,557 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Cartesian Therapeutics by 28.5% in the fourth quarter. Bank of New York Mellon Corp now owns 19,407 shares of the company’s stock worth $348,000 after purchasing an additional 4,305 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Cartesian Therapeutics during the fourth quarter worth about $247,000. Finally, Corebridge Financial Inc. boosted its position in Cartesian Therapeutics by 32.6% in the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock valued at $92,000 after buying an additional 1,258 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Trading Down 4.3 %

Cartesian Therapeutics stock opened at $9.97 on Friday. The firm has a market cap of $258.59 million, a PE ratio of -0.19 and a beta of 0.51. Cartesian Therapeutics, Inc. has a 12 month low of $8.85 and a 12 month high of $41.87. The stock’s 50 day simple moving average is $13.09 and its two-hundred day simple moving average is $17.09.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.07). The company had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $0.69 million. On average, equities research analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current year.

Wall Street Analysts Forecast Growth

RNAC has been the subject of a number of recent research reports. Needham & Company LLC reduced their price target on shares of Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.