660,852 Shares in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Purchased by Delphi Financial Group Inc.

Delphi Financial Group Inc. bought a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 660,852 shares of the company’s stock, valued at approximately $430,000. Cartesian Therapeutics comprises 0.3% of Delphi Financial Group Inc.’s investment portfolio, making the stock its 23rd biggest position. Delphi Financial Group Inc. owned approximately 0.12% of Cartesian Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, BNP Paribas Financial Markets acquired a new stake in Cartesian Therapeutics during the first quarter worth about $38,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RNAC. Leerink Partnrs reissued an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. HC Wainwright dropped their price objective on Cartesian Therapeutics from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a report on Monday. SVB Leerink began coverage on Cartesian Therapeutics in a report on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 price objective on the stock. Finally, Mizuho began coverage on Cartesian Therapeutics in a report on Friday, May 24th. They issued a “buy” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $43.83.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ RNAC traded down $0.04 during midday trading on Tuesday, hitting $16.78. The stock had a trading volume of 399,320 shares, compared to its average volume of 88,681. The stock has a 50 day simple moving average of $25.75 and a 200-day simple moving average of $22.34. Cartesian Therapeutics, Inc. has a 1 year low of $11.66 and a 1 year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its earnings results on Wednesday, May 8th. The company reported ($1.97) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($1.16). The firm had revenue of $5.84 million during the quarter. As a group, equities research analysts anticipate that Cartesian Therapeutics, Inc. will post 2.28 EPS for the current fiscal year.

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.