Analysts Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Target Price at $34.00

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $34.00.

RNAC has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price target 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 research note on Monday, March 9th. BTIG Research restated a “buy” rating on shares of Cartesian Therapeutics in a research report on Monday, March 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, March 10th.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ:RNAC opened at $5.85 on Friday. The company has a 50 day moving average of $7.09 and a 200 day moving average of $7.83. The stock has a market cap of $155.08 million, a P/E ratio of -1.14 and a beta of 0.42. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its 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 business had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.10 million. On average, equities analysts forecast that Cartesian Therapeutics will post 4.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Cartesian Therapeutics

In related news, CFO Blaine Davis sold 10,591 shares of the company’s 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 transaction, the chief financial officer directly owned 121,220 shares in the company, valued at approximately $826,720.40. This 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 the SEC website. Company insiders own 60.30% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Privium Fund Management B.V. bought a new position in shares of Cartesian Therapeutics in the 4th quarter worth $1,244,000. Millennium Management LLC raised its position in shares of Cartesian Therapeutics by 548.2% during the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock valued at $1,185,000 after buying an additional 139,009 shares in the last quarter. Marshall Wace LLP lifted 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 acquiring an additional 93,334 shares during the last quarter. 683 Capital Management LLC lifted its holdings in shares of Cartesian Therapeutics by 46.0% during the 2nd quarter. 683 Capital Management LLC now owns 219,000 shares of the company’s stock worth $2,275,000 after acquiring an additional 69,000 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in Cartesian Therapeutics by 106.9% in 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 in the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.