JPMorgan Chase & Co. Decreases Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

JPMorgan Chase & Co. decreased its position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 274,740 shares of the company's stock after selling 34,278 shares during the period. JPMorgan Chase & Co. owned about 1.08% of Cartesian Therapeutics worth $4,921,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company's stock valued at $2,539,000 after buying an additional 3,830 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cartesian Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company's stock valued at $2,188,000 after buying an additional 2,737 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cartesian Therapeutics by 40.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,803 shares of the company's stock valued at $480,000 after purchasing an additional 7,755 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 buying an additional 4,305 shares during the period. Finally, Barclays PLC increased its position in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company's stock valued at $188,000 after acquiring an additional 7,849 shares during the last quarter. Institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC traded up $0.30 during trading hours on Thursday, hitting $11.93. The company's stock had a trading volume of 5,391 shares, compared to its average volume of 116,643. Cartesian Therapeutics, Inc. has a 52-week low of $8.85 and a 52-week high of $41.87. The business's 50-day moving average is $14.83 and its two-hundred day moving average is $17.97. The company has a market capitalization of $308.94 million, a PE ratio of -0.23 and a beta of 0.55.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.67.

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.