Bank of New York Mellon Corp Has $348,000 Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Bank of New York Mellon Corp lifted its holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 28.5% during the fourth quarter, HoldingsChannel reports. The firm owned 19,407 shares of the company’s stock after purchasing an additional 4,305 shares during the period. Bank of New York Mellon Corp’s holdings in Cartesian Therapeutics were worth $348,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RNAC. BNP Paribas Financial Markets grew its holdings in 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 buying an additional 909 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cartesian Therapeutics by 22.8% in the fourth 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. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Cartesian Therapeutics in the fourth quarter worth $97,000. Rhumbline Advisers increased its position in Cartesian Therapeutics by 10.0% during the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock worth $183,000 after acquiring an additional 927 shares during the period. Finally, Barclays PLC raised its stake in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after purchasing an additional 7,849 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Trading Up 1.3 %

NASDAQ RNAC opened at $14.54 on Friday. Cartesian Therapeutics, Inc. has a 1-year low of $11.67 and a 1-year high of $41.87. The stock’s 50 day moving average is $18.04 and its two-hundred day moving average is $18.80. The company has a market capitalization of $376.69 million, a price-to-earnings ratio of -0.28 and a beta of 0.71.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. BTIG Research started coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 target price on the stock. HC Wainwright cut their price target on Cartesian Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

Insider Activity at Cartesian Therapeutics

In other news, CTO Metin Kurtoglu sold 2,417 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $40,412.24. Following the transaction, the chief technology officer now directly owns 64,716 shares of the company’s stock, valued at $1,082,051.52. The trade was a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blaine Davis sold 3,961 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $66,227.92. Following the sale, the chief financial officer now directly owns 98,839 shares of the company’s stock, valued at $1,652,588.08. This represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,744 shares of company stock valued at $247,337 in the last 90 days. 57.90% of the stock is owned by corporate insiders.

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.