Renaissance Technologies LLC Buys New Holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Renaissance Technologies LLC purchased a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,800 shares of the company’s stock, valued at approximately $247,000. Renaissance Technologies LLC owned about 0.05% of Cartesian Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RNAC. Wells Fargo & Company MN increased its position in Cartesian Therapeutics by 112.7% during the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company’s stock worth $87,000 after purchasing an additional 2,568 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $3,963,000 after acquiring an additional 85,557 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of Cartesian Therapeutics by 32.6% in the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock worth $92,000 after acquiring an additional 1,258 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cartesian Therapeutics by 40.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,803 shares of the company’s stock valued at $480,000 after acquiring an additional 7,755 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Cartesian Therapeutics by 28.5% during the 4th 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 period. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

Cartesian Therapeutics Stock Down 2.0 %

Shares of NASDAQ RNAC opened at $12.44 on Tuesday. The business has a 50 day moving average price of $13.71 and a two-hundred day moving average price of $17.36. Cartesian Therapeutics, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $41.87. The firm has a market cap of $322.66 million, a PE ratio of -0.24 and a beta of 0.51.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RNAC shares. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and a consensus 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.