Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $32.60

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $32.60.

Several brokerages have recently commented on RNAC. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. HC Wainwright cut their target price on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen upgraded Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. BTIG Research reiterated a “buy” rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a research report on Wednesday, June 10th.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of large investors have recently modified their holdings of RNAC. Vanguard Group Inc. boosted its position in Cartesian Therapeutics by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock valued at $5,322,000 after acquiring an additional 24,356 shares in the last quarter. 683 Capital Management LLC lifted its stake in shares of Cartesian Therapeutics by 21.7% in the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after purchasing an additional 50,000 shares during the period. Erste Asset Management GmbH boosted its position in shares of Cartesian Therapeutics by 4.5% during the fourth quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock valued at $1,956,000 after purchasing an additional 11,694 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Cartesian Therapeutics by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock valued at $1,843,000 after purchasing an additional 13,710 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Cartesian Therapeutics by 110.1% in the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after purchasing an additional 93,334 shares during the period. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Up 3.6%

NASDAQ:RNAC opened at $8.35 on Thursday. The firm has a market capitalization of $245.32 million, a P/E ratio of -1.42 and a beta of 0.63. The company has a fifty day moving average of $8.52 and a 200 day moving average of $7.53. Cartesian Therapeutics has a 52 week low of $5.60 and a 52 week high of $12.25.

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.