Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.60.

Several equities analysts have recently commented on the company. HC Wainwright reduced their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. BTIG Research reissued a “buy” rating and set a $44.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, August 18th. Finally, Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC traded down $0.09 during trading hours on Monday, hitting $9.96. The stock had a trading volume of 25,442 shares, compared to its average volume of 212,323. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $11.39. The company has a 50 day simple moving average of $9.04 and a two-hundred day simple moving average of $7.69. The firm has a market capitalization of $301.19 million, a price-to-earnings ratio of -1.67 and a beta of 0.63.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of ($0.88) by $1.34. Equities research analysts anticipate that Cartesian Therapeutics will post -3.11 earnings per share for the current year.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Miller Financial Services LLC grew its position in shares of Cartesian Therapeutics by 17.2% during 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 in the last quarter. Rhumbline Advisers lifted its stake in Cartesian Therapeutics by 27.5% in the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after purchasing an additional 2,805 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Cartesian Therapeutics by 49.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock valued at $85,000 after acquiring an additional 3,878 shares during the period. Bank of America Corp DE lifted its holdings in Cartesian Therapeutics by 133.0% during the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock valued at $145,000 after buying an additional 7,952 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Cartesian Therapeutics during the fourth quarter valued at approximately $74,000. 86.95% of the stock is owned by hedge funds and other 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.