Cartesian Therapeutics (NASDAQ:RNAC) Price Target Raised to $54.00 at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC) had its price target boosted by HC Wainwright from $2.00 to $54.00 in a research note released on Tuesday morning, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on RNAC. SVB Leerink initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday. They issued an outperform rating and a $39.00 target price for the company. Needham & Company LLC assumed coverage on Cartesian Therapeutics in a research report on Tuesday, April 9th. They issued a buy rating and a $42.00 price objective for the company.

Cartesian Therapeutics Price Performance

Shares of NASDAQ RNAC opened at $20.59 on Tuesday. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $42.60. The company has a fifty day moving average price of $19.32.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($0.30) by ($2.10). Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. The company had revenue of $8.27 million during the quarter. Equities analysts anticipate that Cartesian Therapeutics will post -1.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Timothy A. Springer purchased 21,612 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, the director now directly owns 1,017,228 shares of the company’s stock, valued at $16,479,093.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 22,472 shares of company stock valued at $365,981. Insiders own 31.20% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned about 0.98% of Cartesian Therapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.