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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned an average rating of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.50.

A number of brokerages recently issued reports on RNAC. Needham & Company LLC upped their price objective on shares of Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 9th. HC Wainwright decreased their price target on 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 report on Monday, December 29th. Wall Street Zen lowered Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, BTIG Research upped their target price on Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, November 14th.

Cartesian Therapeutics Stock Up 5.2%

RNAC stock opened at $7.87 on Monday. The firm has a 50 day moving average of $7.15 and a two-hundred day moving average of $8.26. Cartesian Therapeutics has a 12 month low of $5.98 and a 12 month high of $18.80. The company has a market capitalization of $204.62 million, a price-to-earnings ratio of -5.04 and a beta of 0.42.

Insider Transactions at Cartesian Therapeutics

In related news, CFO Blaine Davis sold 10,591 shares of the firm’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 60.30% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds have recently bought and sold shares of the company. AlphaQuest LLC grew its position in shares of Cartesian Therapeutics by 64.6% in the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares during the last quarter. R Squared Ltd bought a new stake in Cartesian Therapeutics during the 4th quarter valued at approximately $74,000. Wells Fargo & Company MN grew its holdings in Cartesian Therapeutics by 49.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock valued at $85,000 after buying an additional 3,878 shares during the last quarter. Virtus Investment Advisers LLC increased 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 worth $95,000 after buying an additional 1,023 shares during the period. Finally, Miller Financial Services LLC lifted its holdings in shares of Cartesian Therapeutics by 17.2% during the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after buying an additional 2,000 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors.

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.