Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $38.50 Consensus Target Price from Brokerages

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.50.

A number of research firms recently commented on RNAC. Wall Street Zen downgraded Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. BTIG Research upped their price target on Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. HC Wainwright reduced their price objective on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Monday, December 29th. Finally, Needham & Company LLC upped their price target on Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 9th.

Cartesian Therapeutics Stock Performance

NASDAQ RNAC opened at $7.66 on Friday. Cartesian Therapeutics has a 1 year low of $5.98 and a 1 year high of $20.12. The business’s fifty day moving average is $7.36 and its two-hundred day moving average is $9.51. The stock has a market capitalization of $199.16 million, a P/E ratio of -4.91 and a beta of 0.38.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share (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. On average, research analysts forecast that Cartesian Therapeutics will post 4.56 earnings per share for the current year.

Insider Activity

In other news, CFO Blaine Davis sold 10,591 shares of Cartesian Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $6.82, for a total value of $72,230.62. Following the completion of the transaction, the chief financial officer owned 121,220 shares in the company, valued at approximately $826,720.40. The trade was a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 60.30% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

Large investors have recently modified their holdings of the stock. 683 Capital Management LLC raised its position in 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. Miller Financial Services LLC bought a new position in Cartesian Therapeutics in the 2nd quarter valued at $121,000. Virtus Investment Advisers LLC boosted its position in Cartesian Therapeutics by 12.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock valued at $95,000 after buying an additional 1,023 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Cartesian Therapeutics by 64.6% in the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after buying an additional 2,717 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of Cartesian Therapeutics by 106.9% during the third 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 currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.