Cartesian Therapeutics (NASDAQ:RNAC) Receives Outperform Rating from Wedbush

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “outperform” rating restated by Wedbush in a research report issued on Wednesday,Benzinga reports. They presently have a $38.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 478.47% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price objective for the company in a research report on Monday, March 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Friday, March 27th. HC Wainwright dropped their price target on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. BTIG Research reissued a “buy” rating on shares of Cartesian Therapeutics in a report on Monday, March 9th. Finally, Needham & Company LLC reduced their price objective on Cartesian Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cartesian Therapeutics has an average rating of “Moderate Buy” and an average price target of $32.60.

Cartesian Therapeutics Stock Up 1.8%

Shares of RNAC stock opened at $6.57 on Wednesday. The business has a fifty day simple moving average of $6.79 and a 200 day simple moving average of $7.12. The company has a market cap of $193.01 million, a P/E ratio of -1.11 and a beta of 0.58. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, April 30th. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The business had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.22 million. As a group, equities research analysts anticipate that Cartesian Therapeutics will post -4.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. Privium Fund Management B.V. acquired a new position in shares of Cartesian Therapeutics during the fourth quarter worth $1,244,000. Millennium Management LLC raised its position in Cartesian Therapeutics by 548.2% during the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after purchasing an additional 139,009 shares during the last quarter. Marshall Wace LLP lifted its holdings in 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 buying an additional 93,334 shares during the period. 683 Capital Management LLC lifted its holdings in Cartesian Therapeutics by 21.7% during the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock worth $2,019,000 after buying an additional 50,000 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Cartesian Therapeutics by 106.9% in the 3rd quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock valued at $880,000 after buying an additional 44,493 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.