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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has received a consensus rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $32.60.

A number of research firms recently issued reports on RNAC. HC Wainwright reduced their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and set a $44.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Zacks Research lowered Cartesian Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Weiss Ratings raised Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price objective on the stock in a research report on Monday, March 9th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Cartesian Therapeutics by 63.7% in the 1st quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock worth $414,000 after acquiring an additional 26,200 shares in the last quarter. Sei Investments Co. bought a new stake in Cartesian Therapeutics during the 1st quarter worth about $78,000. Millennium Management LLC increased its position in Cartesian Therapeutics by 548.2% in the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock valued at $1,185,000 after acquiring an additional 139,009 shares in the last quarter. 683 Capital Management LLC increased its position in 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 acquiring an additional 50,000 shares in the last quarter. Finally, Jain Global LLC bought a new position in shares of Cartesian Therapeutics in the fourth quarter worth about $121,000. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Price Performance

Shares of RNAC stock remained flat at $10.59 during trading hours on Friday. 178,014 shares of the company were exchanged, compared to its average volume of 517,707. The company has a market cap of $311.16 million, a price-to-earnings ratio of -1.79 and a beta of 0.59. The company’s fifty day simple moving average is $7.96 and its 200-day simple moving average is $7.34. Cartesian Therapeutics has a 1-year low of $5.60 and a 1-year high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly 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 firm had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.22 million. Analysts predict that Cartesian Therapeutics will post -4.09 EPS for the current year.

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.