Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $43.00 Consensus Price Target from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $43.00.

RNAC has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, October 16th. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of Cartesian Therapeutics in a report on Friday, September 13th. Finally, TD Cowen assumed coverage on shares of Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating on the stock.

Cartesian Therapeutics Trading Down 0.6 %

RNAC opened at $19.68 on Friday. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $42.60. The company has a 50 day moving average of $18.24 and a two-hundred day moving average of $20.33.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $1.35. The firm had revenue of $33.45 million for the quarter, compared to analyst estimates of $6.00 million. On average, research analysts expect that Cartesian Therapeutics will post 3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cartesian Therapeutics news, Director Timothy A. Springer bought 8,016 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.72 per share, with a total value of $101,963.52. Following the completion of the acquisition, the director now owns 11,509 shares of the company’s stock, valued at approximately $146,394.48. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cartesian Therapeutics news, Director Timothy A. Springer bought 8,016 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.72 per share, with a total value of $101,963.52. Following the completion of the acquisition, the director now owns 11,509 shares of the company’s stock, valued at approximately $146,394.48. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy A. Springer bought 80,301 shares of the company’s stock in a transaction on Friday, October 4th. The shares were acquired at an average cost of $22.58 per share, for a total transaction of $1,813,196.58. Following the completion of the acquisition, the director now directly owns 8,023,766 shares of the company’s stock, valued at $181,176,636.28. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 93,831 shares of company stock valued at $2,010,993. Company insiders own 57.90% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $31,000. American International Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $37,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $38,000. Point72 DIFC Ltd bought a new position in Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Cartesian Therapeutics in the 2nd quarter valued at about $49,000. Institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.