Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $38.50 Average PT from Brokerages

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has received an average rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.50.

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

Insider Activity

In related news, CFO Blaine Davis sold 10,591 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $6.82, for a total transaction of $72,230.62. Following the completion of the sale, the chief financial officer directly owned 121,220 shares in the company, valued at approximately $826,720.40. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 60.30% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Hedge funds have recently made changes to their positions in the company. Privium Fund Management B.V. acquired a new position in Cartesian Therapeutics in the 4th quarter valued at about $1,244,000. 683 Capital Management LLC boosted its stake in shares of Cartesian Therapeutics by 46.0% in the second quarter. 683 Capital Management LLC now owns 219,000 shares of the company’s stock valued at $2,275,000 after purchasing an additional 69,000 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Cartesian Therapeutics by 106.9% in the third quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock valued at $880,000 after purchasing an additional 44,493 shares during the period. Marshall Wace LLP grew its holdings in shares of Cartesian Therapeutics by 114.0% in the second quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock valued at $859,000 after purchasing an additional 44,025 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Cartesian Therapeutics during the 3rd quarter worth approximately $259,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Performance

Shares of RNAC stock opened at $6.49 on Thursday. Cartesian Therapeutics has a fifty-two week low of $5.98 and a fifty-two week high of $20.00. The stock’s fifty day moving average is $7.27 and its two-hundred day moving average is $8.90. The firm has a market capitalization of $168.74 million, a P/E ratio of -4.16 and a beta of 0.45.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its 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 for the quarter, compared to analyst estimates of $0.18 million. On average, equities analysts forecast that Cartesian Therapeutics will post 4.56 earnings per share for the current 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.