Logos Global Management LP Takes Position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC)

Logos Global Management LP bought a new position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 90,000 shares of the company’s stock, valued at approximately $2,431,000. Logos Global Management LP owned approximately 0.51% of Cartesian Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at about $38,000. Delphi Financial Group Inc. bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at about $430,000. SG Americas Securities LLC bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at about $31,000. Vanguard Group Inc. bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at about $4,105,000. Finally, American International Group Inc. bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at about $37,000. Institutional investors own 86.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RNAC shares. TD Cowen began coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. Canaccord Genuity Group raised their price target on Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Cartesian Therapeutics in a research report on Friday, September 13th. Needham & Company LLC reduced their price target on Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Oppenheimer lowered Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.00.

Cartesian Therapeutics Trading Down 5.2 %

NASDAQ RNAC opened at $16.12 on Tuesday. Cartesian Therapeutics, Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $42.60. The stock has a 50 day simple moving average of $14.98 and a two-hundred day simple moving average of $19.74.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of ($0.81) by $1.35. The business had revenue of $33.45 million during the quarter, compared to analysts’ expectations of $6.00 million. On average, sell-side analysts expect that Cartesian Therapeutics, Inc. will post 3.99 earnings per share for the current year.

Insider Activity

In other news, Director Timothy A. Springer bought 8,016 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $12.72 per share, for a total transaction of $101,963.52. Following the purchase, the director now directly owns 11,509 shares in the company, valued at approximately $146,394.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 61.10% of the stock is currently owned by company insiders.

Cartesian Therapeutics 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.