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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $32.60.

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday. HC Wainwright lowered their price objective on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. 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 report on Monday, March 9th. BTIG Research restated a “buy” rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Friday, March 27th.

Cartesian Therapeutics Price Performance

Shares of Cartesian Therapeutics stock opened at $6.85 on Wednesday. Cartesian Therapeutics has a 1 year low of $5.60 and a 1 year high of $15.57. The firm has a market cap of $201.25 million, a PE ratio of -1.16 and a beta of 0.66. The company has a 50 day simple moving average of $6.82 and a two-hundred day simple moving average of $7.07.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.22 million. As a group, research analysts anticipate that Cartesian Therapeutics will post -4.09 earnings per share for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds have recently made changes to their positions in RNAC. Privium Fund Management B.V. bought a new stake in shares of Cartesian Therapeutics in the 4th quarter worth approximately $1,244,000. Millennium Management LLC lifted its holdings in shares of Cartesian Therapeutics by 548.2% in the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after acquiring an additional 139,009 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Cartesian Therapeutics by 110.1% in the 4th quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after acquiring an additional 93,334 shares during the last quarter. 683 Capital Management LLC lifted its holdings 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 worth $2,019,000 after acquiring an additional 50,000 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings 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 worth $880,000 after acquiring an additional 44,493 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors.

About Cartesian Therapeutics

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.