Cartesian Therapeutics (NASDAQ:RNAC) Upgraded by Zacks Research to “Hold” Rating

Cartesian Therapeutics (NASDAQ:RNAC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on RNAC. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, June 10th. Wall Street Zen raised Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. HC Wainwright dropped their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cartesian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Cartesian Therapeutics Stock Up 4.2%

Shares of RNAC stock opened at $7.73 on Wednesday. The stock’s 50-day moving average price is $8.42 and its 200 day moving average price is $7.51. Cartesian Therapeutics has a 52-week low of $5.60 and a 52-week high of $13.21. The stock has a market capitalization of $227.11 million, a PE ratio of -1.31 and a beta of 0.59.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Thursday, April 30th. The company reported ($1.46) 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 analyst estimates of $0.22 million. Analysts expect that Cartesian Therapeutics will post -4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd purchased a new position in Cartesian Therapeutics in the 4th quarter valued at approximately $74,000. Sei Investments Co. purchased a new stake in Cartesian Therapeutics during the first quarter worth $78,000. Wells Fargo & Company MN increased its position in shares of Cartesian Therapeutics by 49.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock valued at $85,000 after buying an additional 3,878 shares in the last quarter. Miller Financial Services LLC grew its stake in Cartesian Therapeutics by 17.2% in the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Cartesian Therapeutics during the fourth quarter worth about $112,000. 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.