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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.00.

A number of research analysts recently weighed in on the company. HC Wainwright decreased their target price on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. BTIG Research lifted their price objective on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Wall Street Zen lowered shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Monday.

Cartesian Therapeutics Trading Down 7.6%

NASDAQ RNAC opened at $8.29 on Wednesday. The firm has a market capitalization of $215.54 million, a P/E ratio of -5.31 and a beta of 0.36. The firm’s fifty day moving average price is $8.11 and its two-hundred day moving average price is $9.95. Cartesian Therapeutics has a 1 year low of $5.98 and a 1 year high of $20.30.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.57). The firm had revenue of $0.45 million for the quarter, compared to the consensus estimate of $0.18 million. On average, research analysts anticipate that Cartesian Therapeutics will post 4.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of large investors have recently made changes to their positions in RNAC. AlphaQuest LLC lifted its holdings in Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after purchasing an additional 2,717 shares during the last quarter. Virtus Investment Advisers LLC increased its position in Cartesian Therapeutics by 12.5% during the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after acquiring an additional 1,023 shares during the period. Deutsche Bank AG boosted its holdings in Cartesian Therapeutics by 104.1% in the 1st quarter. Deutsche Bank AG now owns 7,424 shares of the company’s stock valued at $98,000 after purchasing an additional 3,786 shares during the period. Miller Financial Services LLC acquired a new position in shares of Cartesian Therapeutics during the 2nd quarter worth approximately $121,000. Finally, Bank of America Corp DE boosted its stake in shares of Cartesian Therapeutics by 133.0% in the second 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 during the period. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.