Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Target Price at $38.00

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $38.00.

Several equities analysts have commented on RNAC shares. HC Wainwright lowered their target price on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Wednesday, November 19th. BTIG Research boosted their target price on Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Wall Street Zen downgraded Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th.

Institutional Trading of Cartesian Therapeutics

Hedge funds have recently made changes to their positions in the stock. MPM Bioimpact LLC increased its stake in shares of Cartesian Therapeutics by 9.7% during the 1st quarter. MPM Bioimpact LLC now owns 790,779 shares of the company’s stock worth $10,422,000 after purchasing an additional 69,640 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cartesian Therapeutics by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock worth $5,322,000 after acquiring an additional 24,356 shares during the period. Erste Asset Management GmbH raised its holdings in shares of Cartesian Therapeutics by 49.8% in the 1st quarter. Erste Asset Management GmbH now owns 260,011 shares of the company’s stock worth $3,432,000 after buying an additional 86,445 shares in the last quarter. 683 Capital Management LLC grew its holdings in shares of Cartesian Therapeutics by 46.0% in the 2nd quarter. 683 Capital Management LLC now owns 219,000 shares of the company’s stock worth $2,275,000 after purchasing an additional 69,000 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in Cartesian Therapeutics by 106.9% during the 3rd quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock worth $880,000 after acquiring an additional 44,493 shares during the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Stock Performance

Shares of RNAC stock opened at $7.43 on Friday. Cartesian Therapeutics has a 1 year low of $5.98 and a 1 year high of $26.50. The firm has a market capitalization of $193.21 million, a PE ratio of -4.76 and a beta of 0.44. The stock has a fifty day moving average of $8.84 and a two-hundred day moving average of $10.19.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.57). The firm had revenue of $0.45 million during the quarter, compared to the consensus estimate of $0.18 million. Equities research analysts predict that Cartesian Therapeutics will post 4.56 earnings per share for the current fiscal 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.