Cartesian Therapeutics (NASDAQ:RNAC) Given New $54.00 Price Target at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC) had its target price upped by HC Wainwright from $2.00 to $54.00 in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Cartesian Therapeutics’ Q1 2024 earnings at ($0.27) EPS, Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.38) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.52) EPS, Q4 2025 earnings at ($0.58) EPS and FY2025 earnings at ($2.05) EPS.

A number of other equities research analysts have also recently weighed in on the company. SVB Leerink initiated coverage on Cartesian Therapeutics in a research note on Tuesday. They issued an outperform rating and a $39.00 price objective for the company. Needham & Company LLC assumed coverage on Cartesian Therapeutics in a research report on Tuesday, April 9th. They set a buy rating and a $42.00 target price on the stock.

Cartesian Therapeutics Price Performance

RNAC stock opened at $20.90 on Tuesday. The stock’s 50 day simple moving average is $19.26. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($2.10). Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. The firm had revenue of $8.27 million during the quarter. As a group, sell-side analysts anticipate that Cartesian Therapeutics will post -3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Cartesian Therapeutics

In related news, Director Timothy A. Springer purchased 21,612 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the acquisition, the director now owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 22,472 shares of company stock worth $365,981 in the last 90 days. 31.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee acquired a new position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned 0.98% of Cartesian Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.