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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $38.50.

Several equities analysts have recently commented on the company. BTIG Research raised their price target on Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Wall Street Zen downgraded shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Needham & Company LLC boosted their price target 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Monday, December 29th. Finally, HC Wainwright dropped their price objective on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th.

Insider Activity

In other news, CFO Blaine Davis sold 10,591 shares of Cartesian Therapeutics 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 transaction, the chief financial officer directly owned 121,220 shares in the company, valued at approximately $826,720.40. This trade represents a 8.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 60.30% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC raised its holdings in Cartesian Therapeutics by 64.6% in the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after purchasing an additional 2,717 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in shares of Cartesian Therapeutics by 12.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock valued at $95,000 after buying an additional 1,023 shares in the last quarter. R Squared Ltd purchased a new position in shares of Cartesian Therapeutics in the 4th quarter worth approximately $74,000. Miller Financial Services LLC bought a new position in shares of Cartesian Therapeutics during the 2nd quarter worth approximately $121,000. Finally, Rhumbline Advisers lifted its position in 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 acquiring an additional 2,805 shares during the last quarter. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Down 1.1%

RNAC opened at $6.40 on Thursday. The stock’s fifty day moving average is $7.24 and its two-hundred day moving average is $8.76. The company has a market capitalization of $166.40 million, a P/E ratio of -4.10 and a beta of 0.45. Cartesian Therapeutics has a 52 week low of $5.98 and a 52 week high of $20.00.

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.