Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Holdings Reduced by Erste Asset Management GmbH

Erste Asset Management GmbH lessened its holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 93.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,566 shares of the company's stock after selling 2,527,000 shares during the period. Erste Asset Management GmbH owned about 0.68% of Cartesian Therapeutics worth $3,260,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cartesian Therapeutics by 22.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company's stock valued at $82,000 after acquiring an additional 847 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Cartesian Therapeutics by 122.5% in the 3rd 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. Rhumbline Advisers increased its stake in Cartesian Therapeutics by 10.0% during the 4th quarter. Rhumbline Advisers now owns 10,201 shares of the company's stock worth $183,000 after buying an additional 927 shares during the period. JPMorgan Chase & Co. increased its stake in Cartesian Therapeutics by 0.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company's stock worth $4,981,000 after buying an additional 2,688 shares during the period. Finally, Geode Capital Management LLC increased its stake in Cartesian Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company's stock worth $2,188,000 after buying an additional 2,737 shares during the period. Hedge funds and other institutional investors own 86.95% of the company's stock.

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Insider Activity at Cartesian Therapeutics

In related news, CFO Blaine Davis sold 4,028 shares of the business'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 sale, the chief financial officer now owns 94,811 shares of the company's stock, valued at $1,595,669.13. This represents a 4.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Metin Kurtoglu sold 2,417 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $40,412.24. Following the sale, the chief technology officer now directly owns 64,716 shares of the company's stock, valued at approximately $1,082,051.52. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,744 shares of company stock valued at $247,337 in the last quarter. Insiders own 57.90% of the company's stock.

Cartesian Therapeutics Stock Up 5.9 %

Shares of RNAC traded up $0.86 during midday trading on Wednesday, hitting $15.46. The company had a trading volume of 115,795 shares, compared to its average volume of 112,678. The company's 50 day moving average price is $18.46 and its 200 day moving average price is $18.76. The stock has a market cap of $400.52 million, a price-to-earnings ratio of -0.29 and a beta of 0.71. Cartesian Therapeutics, Inc. has a 52 week low of $11.67 and a 52 week high of $41.87.

Wall Street Analysts Forecast Growth

RNAC has been the topic of several analyst reports. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They set a "buy" rating and a $42.00 price target on the stock. HC Wainwright dropped their price target on shares of Cartesian Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a "hold" rating in a research note 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 research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $42.14.

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.