Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $34.00

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $34.00.

Several equities analysts have weighed in on the company. BTIG Research reaffirmed a “buy” rating on shares of Cartesian Therapeutics in a report on Monday, March 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a report on Monday, March 9th. Cantor Fitzgerald raised Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price objective for the company in a report on Monday, March 9th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Friday, March 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 buying an additional 24,356 shares in the last quarter. 683 Capital Management LLC raised its holdings in shares of Cartesian Therapeutics by 21.7% during the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock worth $2,019,000 after buying an additional 50,000 shares in the last quarter. Erste Asset Management GmbH raised its holdings in shares of Cartesian Therapeutics by 4.5% during the 4th quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock worth $1,956,000 after buying an additional 11,694 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cartesian Therapeutics by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock worth $1,843,000 after buying an additional 13,710 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Cartesian Therapeutics by 110.1% during the 4th quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after buying an additional 93,334 shares in the last quarter. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Price Performance

RNAC opened at $6.97 on Tuesday. The business has a fifty day simple moving average of $6.86 and a 200 day simple moving average of $7.40. The company has a market capitalization of $184.77 million, a PE ratio of -1.36 and a beta of 0.47. Cartesian Therapeutics has a 1 year low of $5.60 and a 1 year high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Monday, March 9th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.56). The company had revenue of $0.95 million during the quarter, compared to analyst estimates of $0.10 million. Equities analysts anticipate that Cartesian Therapeutics will post -3.22 earnings per share for the current fiscal year.

About Cartesian Therapeutics

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.