Deutsche Bank AG Increases Stock Holdings in Cartesian Therapeutics, Inc. $RNAC

Deutsche Bank AG increased its holdings in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 104.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,424 shares of the company’s stock after buying an additional 3,786 shares during the quarter. Deutsche Bank AG’s holdings in Cartesian Therapeutics were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RNAC. Wells Fargo & Company MN grew its holdings in Cartesian Therapeutics by 112.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company’s stock valued at $87,000 after buying an additional 2,568 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cartesian Therapeutics by 44.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock worth $104,000 after acquiring an additional 1,789 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Cartesian Therapeutics in the fourth quarter worth approximately $119,000. Bank of America Corp DE grew its holdings in Cartesian Therapeutics by 54.4% in the fourth quarter. Bank of America Corp DE now owns 11,690 shares of the company’s stock valued at $209,000 after purchasing an additional 4,120 shares during the period. Finally, Rhumbline Advisers grew its holdings in Cartesian Therapeutics by 27.5% in the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after purchasing an additional 2,805 shares during the period. 86.95% of the stock is owned by institutional investors and hedge funds.

Cartesian Therapeutics Stock Down 2.2%

Shares of RNAC stock opened at $10.05 on Tuesday. Cartesian Therapeutics, Inc. has a fifty-two week low of $8.46 and a fifty-two week high of $26.50. The firm’s 50 day moving average price is $11.73 and its two-hundred day moving average price is $12.41. The stock has a market cap of $261.30 million, a price-to-earnings ratio of -0.19 and a beta of 0.39.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, August 7th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.76) by $1.26. The company had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.77 million. On average, equities analysts forecast that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on RNAC shares. Wedbush initiated coverage on shares of Cartesian Therapeutics in a research note on Wednesday, July 9th. They set an “outperform” rating and a $38.00 price target on the stock. Needham & Company LLC dropped their price objective on Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cartesian Therapeutics has an average rating of “Moderate Buy” and an average target price of $40.00.

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.