MetLife Investment Management LLC Invests $119,000 in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

MetLife Investment Management LLC acquired a new stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,667 shares of the company’s stock, valued at approximately $119,000.

Several other large investors also recently added to or reduced their stakes in RNAC. Geode Capital Management LLC increased its stake in shares of Cartesian Therapeutics by 63.0% during the fourth quarter. Geode Capital Management LLC now owns 221,257 shares of the company’s stock valued at $3,963,000 after buying an additional 85,557 shares during the period. Renaissance Technologies LLC bought a new position in Cartesian Therapeutics during the 4th quarter worth about $247,000. Barclays PLC increased its position 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 period. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 7,755 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Cartesian Therapeutics in the 4th quarter worth approximately $97,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Stock Down 4.3 %

NASDAQ:RNAC opened at $9.97 on Friday. The stock has a market capitalization of $258.59 million, a price-to-earnings ratio of -0.19 and a beta of 0.51. Cartesian Therapeutics, Inc. has a 52 week low of $8.85 and a 52 week high of $41.87. The firm has a 50 day moving average of $13.09 and a 200 day moving average of $17.09.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.07). The firm had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $0.69 million. As a group, analysts expect that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RNAC shares. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. Needham & Company LLC dropped their target price on Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Cartesian Therapeutics Company 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.