Cartesian Therapeutics’ (RNAC) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a report published on Tuesday,Benzinga reports. Wedbush currently has a $38.00 price target on the stock.

A number of other research analysts have also recently commented on RNAC. Cantor Fitzgerald raised Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a research report on Monday. HC Wainwright decreased their price objective 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 restated a “buy” rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a research note on Monday. BTIG Research reaffirmed a “buy” rating on shares of Cartesian Therapeutics in a report on Monday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cartesian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Cartesian Therapeutics Trading Down 1.7%

NASDAQ:RNAC opened at $8.12 on Tuesday. The stock has a market capitalization of $215.26 million, a PE ratio of -1.59 and a beta of 0.42. The firm’s 50 day moving average is $7.28 and its 200 day moving average is $8.15. Cartesian Therapeutics has a 12 month low of $5.98 and a 12 month high of $17.42.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Monday, March 9th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.56). The business had revenue of $0.95 million during the quarter, compared to analyst estimates of $0.10 million. Research analysts predict that Cartesian Therapeutics will post 4.56 earnings per share for the current year.

Insider Activity at Cartesian Therapeutics

In other news, CFO Blaine Davis sold 10,591 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total value of $72,230.62. Following the completion of the transaction, the chief financial officer directly owned 121,220 shares of the company’s stock, valued at $826,720.40. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 60.30% of the stock is owned by insiders.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtus Investment Advisers LLC lifted its holdings in Cartesian Therapeutics by 12.5% during 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 in the last quarter. Miller Financial Services LLC grew its holdings in Cartesian Therapeutics by 17.2% during the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after buying an additional 2,000 shares in the last quarter. AlphaQuest LLC increased its position in shares of Cartesian Therapeutics by 64.6% during the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after buying an additional 2,717 shares during the period. Rhumbline Advisers increased its position in shares of Cartesian Therapeutics by 27.5% during 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 during the period. Finally, Wells Fargo & Company MN lifted its holdings 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 worth $85,000 after buying an additional 3,878 shares in 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.