Citadel Advisors LLC Sells 60,767 Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Citadel Advisors LLC lowered its holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 16.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 315,000 shares of the company’s stock after selling 60,767 shares during the quarter. Citadel Advisors LLC’s holdings in Cartesian Therapeutics were worth $5,642,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RNAC. Barclays PLC boosted its holdings in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after acquiring an additional 7,849 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Cartesian Therapeutics in the 4th quarter worth about $97,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cartesian Therapeutics by 22.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after purchasing an additional 847 shares during the last quarter. Rhumbline Advisers lifted its holdings in Cartesian Therapeutics by 10.0% during the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock valued at $183,000 after purchasing an additional 927 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Cartesian Therapeutics by 28.5% during the fourth quarter. Bank of New York Mellon Corp now owns 19,407 shares of the company’s stock valued at $348,000 after purchasing an additional 4,305 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RNAC shares. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. Needham & Company LLC decreased their price objective on shares of Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $10.26 on Friday. The firm has a market cap of $266.29 million, a PE ratio of -0.19 and a beta of 0.51. Cartesian Therapeutics, Inc. has a fifty-two week low of $8.85 and a fifty-two week high of $41.87. The business has a 50 day moving average price of $12.31 and a 200-day moving average price of $16.66.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates 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. Research analysts predict that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current year.

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.