Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Price Target at $45.00

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNACGet Free Report) have received a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.00.

Several research firms have recently weighed in on RNAC. SVB Leerink assumed coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. They set an “outperform” rating and a $39.00 price objective on the stock. Mizuho initiated coverage on Cartesian Therapeutics in a research report on Friday, May 24th. They set a “buy” rating and a $40.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Cartesian Therapeutics in a research report on Thursday, May 23rd. Oppenheimer initiated coverage on Cartesian Therapeutics in a report on Tuesday. They set an “outperform” rating and a $50.00 price target for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd.

Check Out Our Latest Report on RNAC

Cartesian Therapeutics Stock Down 4.6 %

NASDAQ:RNAC opened at $34.70 on Tuesday. The stock’s 50-day simple moving average is $22.87 and its 200 day simple moving average is $21.77. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNACGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The company had revenue of $5.84 million for the quarter. Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 983.93%. On average, analysts expect that Cartesian Therapeutics will post 1.71 earnings per share for the current fiscal year.

Insider Transactions at Cartesian Therapeutics

In other news, Director Timothy A. Springer bought 21,612 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the acquisition, the director now owns 1,017,228 shares of the company’s stock, valued at $16,479,093.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have bought 22,286 shares of company stock worth $362,306. Company insiders own 61.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Hall Laurie J Trustee bought a new position in shares of Cartesian Therapeutics in the first quarter worth $34,000. BNP Paribas Financial Markets acquired a new stake in Cartesian Therapeutics during the first quarter worth about $38,000. Delphi Financial Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $430,000. SG Americas Securities LLC acquired a new position in shares of Cartesian Therapeutics in the 1st quarter valued at approximately $31,000. Finally, Vanguard Group Inc. bought a new stake in shares of Cartesian Therapeutics during the 1st quarter worth approximately $4,105,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

About Cartesian Therapeutics

(Get Free Report

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.

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Analyst Recommendations for Cartesian Therapeutics (NASDAQ:RNAC)

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