Cartesian Therapeutics’ (RNAC) “Buy” Rating Reaffirmed at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $25.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 240.97% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. BTIG Research restated a “buy” rating and issued a $44.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Cartesian Therapeutics in a research note on Wednesday, September 9th. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, August 18th. Finally, Zacks Research upgraded shares of Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Cartesian Therapeutics Stock Performance

Shares of Cartesian Therapeutics stock traded up $0.09 during trading on Wednesday, reaching $7.33. The company had a trading volume of 21,856 shares, compared to its average volume of 198,920. The company has a market cap of $221.83 million, a price-to-earnings ratio of -1.23 and a beta of 0.62. The firm’s fifty day moving average is $8.60 and its 200-day moving average is $7.97. Cartesian Therapeutics has a fifty-two week low of $5.60 and a fifty-two week high of $11.00.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $1.34. On average, research analysts anticipate that Cartesian Therapeutics will post -3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC grew its position in Cartesian Therapeutics by 0.7% in the 2nd quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company’s stock worth $23,493,000 after purchasing an additional 16,133 shares during the last quarter. 683 Capital Management LLC grew 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 worth $2,019,000 after purchasing an additional 50,000 shares during the last quarter. Erste Asset Management GmbH grew its position in Cartesian Therapeutics by 4.5% in the 4th quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock worth $1,956,000 after purchasing an additional 11,694 shares during the last quarter. Renaissance Technologies LLC grew its position in 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 purchasing an additional 26,200 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Cartesian Therapeutics in the 2nd quarter worth about $332,000. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, Inc (NASDAQ: RNAC) is a clinical-stage biotechnology company developing cell therapies for autoimmune diseases. Its research focuses on mRNA cell therapy, an approach designed to program a patient’s own immune cells to target disease-related proteins while enabling transient expression of the therapeutic construct.

The company’s lead program, Descartes-08, is an autologous anti-BCMA CAR T-cell therapy that uses mRNA to direct T cells against B-cell maturation antigen.