Cartesian Therapeutics (NASDAQ:RNAC) Cut to “Sell” at Wall Street Zen

Cartesian Therapeutics (NASDAQ:RNAC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Cartesian Therapeutics Stock Performance

RNAC opened at $7.87 on Friday. Cartesian Therapeutics has a one year low of $5.98 and a one year high of $26.50. The stock has a market capitalization of $204.64 million, a PE ratio of -9.05 and a beta of 0.44. The business’s 50 day moving average price is $9.43 and its 200 day moving average price is $10.54.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.57). The business had revenue of $0.45 million during the quarter, compared to the consensus estimate of $0.18 million. As a group, equities research analysts forecast that Cartesian Therapeutics will post 4.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

Several large investors have recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its holdings in Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after buying an additional 2,717 shares in the last quarter. Virtus Investment Advisers LLC increased its position in shares of Cartesian Therapeutics by 12.5% during the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after acquiring an additional 1,023 shares during the period. Deutsche Bank AG raised its stake in shares of Cartesian Therapeutics by 104.1% in the first quarter. Deutsche Bank AG now owns 7,424 shares of the company’s stock valued at $98,000 after acquiring an additional 3,786 shares in the last quarter. Miller Financial Services LLC purchased a new position in Cartesian Therapeutics in the second quarter valued at $121,000. Finally, Bank of America Corp DE grew its stake in Cartesian Therapeutics by 133.0% during the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock worth $145,000 after purchasing an additional 7,952 shares in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

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.