Analysts Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $38.50

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat.com reports. One 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 covered the stock in the last year is $38.50.

A number of equities research analysts recently commented on the company. BTIG Research lifted their target price on Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, November 14th. HC Wainwright cut their price target on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Monday, December 29th. Finally, Needham & Company LLC upped their price objective on shares of Cartesian Therapeutics from $40.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 9th.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $6.85 on Monday. The business’s 50-day simple moving average is $7.16 and its two-hundred day simple moving average is $8.18. The company has a market cap of $178.10 million, a PE ratio of -4.39 and a beta of 0.41. Cartesian Therapeutics has a fifty-two week low of $5.98 and a fifty-two week high of $18.80.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, CFO Blaine Davis sold 10,591 shares of the company’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 sale, the chief financial officer directly owned 121,220 shares of the company’s stock, 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 can be accessed through this link. 60.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cartesian Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtus Investment Advisers LLC raised its holdings 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 purchasing an additional 1,023 shares during the period. Miller Financial Services LLC grew its holdings in Cartesian Therapeutics by 17.2% in the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after purchasing an additional 2,000 shares during the period. AlphaQuest LLC grew its holdings in 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 period. Rhumbline Advisers increased its position in shares of Cartesian Therapeutics by 27.5% in the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after buying an additional 2,805 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Cartesian Therapeutics by 49.2% in the fourth 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 in the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

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.