Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $40.00 Average PT from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $40.00.

RNAC has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cartesian Therapeutics in a research note on Saturday, September 27th. Wedbush initiated coverage on shares of Cartesian Therapeutics in a research report on Wednesday, July 9th. They set an “outperform” rating and a $38.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Virtus Investment Advisers LLC lifted its holdings in Cartesian Therapeutics by 12.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after purchasing an additional 1,023 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Cartesian Therapeutics by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 20,937 shares of the company’s stock valued at $276,000 after purchasing an additional 1,530 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Cartesian Therapeutics by 9.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,303 shares of the company’s stock worth $386,000 after buying an additional 2,500 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Cartesian Therapeutics by 27.5% during the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after buying an additional 2,805 shares during the period. Finally, Twin Focus Capital Partners LLC grew its stake in Cartesian Therapeutics by 25.0% in the 1st quarter. Twin Focus Capital Partners LLC now owns 15,000 shares of the company’s stock valued at $198,000 after buying an additional 3,000 shares during the last quarter. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Price Performance

Shares of Cartesian Therapeutics stock opened at $10.19 on Friday. The firm has a market cap of $264.94 million, a price-to-earnings ratio of -0.19 and a beta of 0.39. The stock has a 50-day simple moving average of $10.71 and a 200-day simple moving average of $11.10. Cartesian Therapeutics has a 52-week low of $8.46 and a 52-week high of $26.50.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of ($0.76) by $1.26. The business had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.77 million. As a group, equities research analysts predict that Cartesian Therapeutics will post 4.56 earnings per share for the current year.

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.