Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $42.33 Consensus Price Target from Brokerages

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $42.33.

A number of equities analysts have recently issued reports on RNAC shares. HC Wainwright cut their price objective on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 8th. TD Cowen began coverage on Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Monday.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ:RNAC opened at $17.91 on Tuesday. The firm has a market capitalization of $455.27 million, a PE ratio of -0.34 and a beta of 0.63. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $41.87. The firm has a fifty day moving average of $19.65 and a 200 day moving average of $19.92.

Insider Buying and Selling

In related news, Director Timothy A. Springer acquired 5,514 shares of Cartesian Therapeutics stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average cost of $17.38 per share, with a total value of $95,833.32. Following the transaction, the director now owns 7,823,559 shares in the company, valued at $135,973,455.42. This trade represents a 0.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Milos Miljkovic sold 35,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total transaction of $564,550.00. Following the completion of the transaction, the insider now owns 18,273 shares of the company’s stock, valued at $294,743.49. This trade represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,089 shares of company stock valued at $2,169,555 over the last three months. 57.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in shares of Cartesian Therapeutics during the first quarter valued at approximately $4,105,000. Logos Global Management LP bought a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at $2,431,000. BNP Paribas Financial Markets purchased a new stake in shares of Cartesian Therapeutics in the 1st quarter worth about $38,000. American International Group Inc. bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth about $37,000. Finally, SG Americas Securities LLC bought a new stake in Cartesian Therapeutics during the first quarter worth about $31,000. Hedge funds and other 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.