Miller Financial Services LLC Takes $121,000 Position in Cartesian Therapeutics, Inc. $RNAC

Miller Financial Services LLC acquired a new stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,643 shares of the company’s stock, valued at approximately $121,000.

A number of other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC bought a new position in Cartesian Therapeutics during the first quarter valued at approximately $95,000. Deutsche Bank AG lifted its holdings in shares of Cartesian Therapeutics by 104.1% in the 1st quarter. Deutsche Bank AG now owns 7,424 shares of the company’s stock worth $98,000 after acquiring an additional 3,786 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Cartesian Therapeutics by 27.5% in the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after purchasing an additional 2,805 shares in the last quarter. Twin Focus Capital Partners LLC grew its holdings in shares of Cartesian Therapeutics by 25.0% during the 1st quarter. Twin Focus Capital Partners LLC now owns 15,000 shares of the company’s stock valued at $198,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Cartesian Therapeutics by 7.9% in the 1st quarter. Bank of New York Mellon Corp now owns 20,937 shares of the company’s stock worth $276,000 after purchasing an additional 1,530 shares during the period. Institutional investors own 86.95% of the company’s stock.

Analyst Upgrades and Downgrades

RNAC has been the subject of several analyst reports. BTIG Research upped their price target on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Wall Street Zen lowered Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. HC Wainwright dropped their target price on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Cartesian Therapeutics Stock Down 6.2%

NASDAQ:RNAC opened at $7.15 on Thursday. The firm’s fifty day simple moving average is $8.99 and its 200 day simple moving average is $10.27. The stock has a market cap of $185.93 million, a P/E ratio of -4.58 and a beta of 0.45. Cartesian Therapeutics, Inc. has a twelve month low of $5.98 and a twelve month high of $26.50.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.57). The business had revenue of $0.45 million for the quarter, compared to analyst estimates of $0.18 million. On average, analysts expect that Cartesian Therapeutics, Inc. will post 4.56 EPS for the current fiscal year.

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.