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

Cartesian Therapeutics, Inc. (NASDAQ:RNACGet Free Report) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $43.00.

A number of equities research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a report on Friday, September 13th. TD Cowen initiated coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Wednesday, October 16th.

Get Our Latest Analysis on Cartesian Therapeutics

Insider Buying and Selling at Cartesian Therapeutics

In related news, Director Timothy A. Springer acquired 5,514 shares of Cartesian Therapeutics stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the purchase, the director now directly owns 7,823,559 shares of the company’s stock, valued at $135,973,455.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cartesian Therapeutics news, Director Timothy A. Springer bought 80,301 shares of the company’s stock in a transaction on Friday, October 4th. The shares were bought at an average cost of $22.58 per share, with a total value of $1,813,196.58. Following the completion of the acquisition, the director now owns 8,023,766 shares of the company’s stock, valued at approximately $181,176,636.28. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy A. Springer bought 5,514 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the acquisition, the director now directly owns 7,823,559 shares of the company’s stock, valued at $135,973,455.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 93,831 shares of company stock worth $2,010,993 in the last ninety days. 61.10% of the stock is owned by insiders.

Institutional Trading of Cartesian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of Cartesian Therapeutics during the second quarter worth $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth about $49,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth about $351,000. Marshall Wace LLP acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth about $811,000. Finally, Lake Street Advisors Group LLC acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth about $855,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $19.80 on Friday. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The firm has a 50 day moving average price of $18.12 and a 200 day moving average price of $20.30.

Cartesian Therapeutics (NASDAQ:RNACGet Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $1.35. The company had revenue of $33.45 million during the quarter, compared to analysts’ expectations of $6.00 million. Equities research analysts expect that Cartesian Therapeutics will post 3.99 earnings per share for the current fiscal year.

About Cartesian Therapeutics

(Get Free Report

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.

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Analyst Recommendations for Cartesian Therapeutics (NASDAQ:RNAC)

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