Goldman Sachs Group Inc. Trims Stake in Cartesian Therapeutics, Inc. $RNAC

Goldman Sachs Group Inc. cut its holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 42.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,775 shares of the company’s stock after selling 11,750 shares during the period. Goldman Sachs Group Inc. owned 0.06% of Cartesian Therapeutics worth $208,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RNAC. Erste Asset Management GmbH raised its holdings in Cartesian Therapeutics by 49.8% in the 1st quarter. Erste Asset Management GmbH now owns 260,011 shares of the company’s stock valued at $3,432,000 after acquiring an additional 86,445 shares during the last quarter. MPM Bioimpact LLC raised its holdings in Cartesian Therapeutics by 9.7% in the 1st quarter. MPM Bioimpact LLC now owns 790,779 shares of the company’s stock valued at $10,422,000 after acquiring an additional 69,640 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Cartesian Therapeutics by 197.8% in the 4th quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company’s stock valued at $1,291,000 after acquiring an additional 47,889 shares during the last quarter. Nuveen LLC acquired a new position in Cartesian Therapeutics in the 1st quarter valued at $367,000. Finally, 683 Capital Management LLC raised its holdings in Cartesian Therapeutics by 20.0% in the 1st quarter. 683 Capital Management LLC now owns 150,000 shares of the company’s stock valued at $1,977,000 after acquiring an additional 25,000 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Stock Down 2.1%

RNAC stock opened at $9.26 on Monday. The company has a market cap of $240.76 million, a price-to-earnings ratio of -0.18 and a beta of 0.39. The business has a fifty day simple moving average of $10.98 and a 200-day simple moving average of $11.28. Cartesian Therapeutics, Inc. has a 52 week low of $8.46 and a 52 week high of $26.50.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $1.26. The firm had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.77 million. As a group, analysts expect that Cartesian Therapeutics, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush started coverage on Cartesian Therapeutics in a report on Wednesday, July 9th. They issued an “outperform” rating and a $38.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently 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.