Cartesian Therapeutics’ (RNAC) Buy Rating Reiterated at BTIG Research

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $44.00 target price on the stock.

Several other brokerages also recently issued reports on RNAC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. 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. Needham & Company LLC reduced their price target on Cartesian Therapeutics from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Cantor Fitzgerald upgraded Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price target for the company in a research report on Monday, March 9th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Cartesian Therapeutics in a research report on Wednesday, May 27th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.60.

Cartesian Therapeutics Trading Up 17.7%

NASDAQ RNAC traded up $1.04 during trading hours on Tuesday, reaching $6.90. The company’s stock had a trading volume of 3,062,718 shares, compared to its average volume of 205,646. The stock has a market cap of $202.60 million, a PE ratio of -1.17 and a beta of 0.66. The business has a 50-day simple moving average of $6.80 and a 200 day simple moving average of $7.07. Cartesian Therapeutics has a 52 week low of $5.60 and a 52 week high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) EPS 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 analysts’ expectations of $0.22 million. As a group, equities analysts predict that Cartesian Therapeutics will post -4.09 EPS for the current year.

Institutional Trading of Cartesian Therapeutics

Institutional investors have recently modified their holdings of the company. Privium Fund Management B.V. acquired a new stake in shares of Cartesian Therapeutics in the fourth quarter valued at $1,244,000. R Squared Ltd acquired a new stake in shares of Cartesian Therapeutics in the fourth quarter valued at $74,000. GSA Capital Partners LLP increased its holdings in shares of Cartesian Therapeutics by 106.9% in the third quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock valued at $880,000 after buying an additional 44,493 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Cartesian Therapeutics by 64.6% during the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Cartesian Therapeutics during the first quarter valued at $78,000. 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.