HC Wainwright Cuts Cartesian Therapeutics (NASDAQ:RNAC) Price Target to $25.00

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective lowered by investment analysts at HC Wainwright from $30.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 193.08% from the company’s current price.

A number of other brokerages also recently weighed in on RNAC. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Friday, March 27th. BTIG Research reissued a “buy” rating on shares of Cartesian Therapeutics in a research note on Monday, March 9th. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a research note on Friday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a research note on Monday, March 9th. Finally, Cantor Fitzgerald raised Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Monday, March 9th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.00.

Cartesian Therapeutics Stock Performance

Shares of RNAC stock opened at $8.53 on Tuesday. The stock’s 50 day simple moving average is $6.93 and its 200 day simple moving average is $7.22. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $15.57. The company has a market capitalization of $250.61 million, a price-to-earnings ratio of -1.45 and a beta of 0.58.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.62). The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.22 million. On average, analysts forecast that Cartesian Therapeutics will post -3.72 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC grew its holdings in Cartesian Therapeutics by 64.6% in the 3rd 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 last quarter. R Squared Ltd acquired a new stake in Cartesian Therapeutics in the 4th quarter valued at approximately $74,000. Wells Fargo & Company MN grew its holdings in shares of Cartesian Therapeutics by 49.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after purchasing an additional 3,878 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Cartesian Therapeutics by 27.5% during the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after purchasing an additional 2,805 shares in the last quarter. Finally, Miller Financial Services LLC grew its holdings in shares of Cartesian Therapeutics by 17.2% during the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.