Cartesian Therapeutics (NASDAQ:RNAC) Upgraded to “Overweight” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Cartesian Therapeutics (NASDAQ:RNAC) from a neutral rating to an overweight rating in a report released on Monday morning, MarketBeat reports. The brokerage currently has $16.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. 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. Needham & Company LLC upped their price objective on Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Monday, December 29th. Finally, BTIG Research raised their target price on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, November 14th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cartesian Therapeutics has an average rating of “Moderate Buy” and an average target price of $34.00.

Cartesian Therapeutics Trading Up 31.7%

Shares of RNAC stock opened at $9.02 on Monday. Cartesian Therapeutics has a 12-month low of $5.98 and a 12-month high of $18.80. The stock’s 50-day moving average price is $7.21 and its 200-day moving average price is $8.17. The stock has a market capitalization of $234.52 million, a price-to-earnings ratio of -5.78 and a beta of 0.41.

Insider Buying and Selling at Cartesian Therapeutics

In other news, CFO Blaine Davis sold 10,591 shares of Cartesian Therapeutics stock in a transaction on Tuesday, January 6th. The stock was 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 can be accessed through this link. Company insiders own 60.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RNAC. AlphaQuest LLC lifted its holdings in Cartesian Therapeutics by 64.6% during 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 in the last quarter. 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 period. R Squared Ltd bought a new position in Cartesian Therapeutics in the 4th quarter worth about $74,000. Miller Financial Services LLC bought a new position in Cartesian Therapeutics in the 2nd quarter worth about $121,000. Finally, Wells Fargo & Company MN increased its position in shares of Cartesian Therapeutics by 49.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after acquiring an additional 3,878 shares during the period. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.