Cartesian Therapeutics’ (RNAC) Buy Rating Reaffirmed at Needham & Company LLC

Cartesian Therapeutics (NASDAQ:RNACGet Free Report)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They presently have a $42.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 147.50% from the company’s current price.

Other equities analysts have also issued reports about the stock. Oppenheimer lowered shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. SVB Leerink initiated coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. They set an “outperform” rating and a $39.00 price target on the stock. Mizuho initiated coverage on shares of Cartesian Therapeutics in a research report on Friday, May 24th. They set a “buy” rating and a $40.00 price target on the stock. Finally, HC Wainwright cut their price target on shares of Cartesian Therapeutics from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.83.

View Our Latest Report on RNAC

Cartesian Therapeutics Price Performance

Shares of RNAC stock opened at $16.97 on Monday. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60. The firm has a fifty day moving average of $25.85 and a 200-day moving average of $22.37.

Cartesian Therapeutics (NASDAQ:RNACGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The company had revenue of $5.84 million for the quarter. Equities analysts predict that Cartesian Therapeutics will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RNAC. Artal Group S.A. bought a new stake in shares of Cartesian Therapeutics in the 1st quarter valued at about $5,939,000. Vanguard Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $4,105,000. Delphi Financial Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $430,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $38,000. Finally, American International Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $37,000. 86.95% of the stock is owned by institutional investors.

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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