Cartesian Therapeutics (NASDAQ:RNAC) Earns “Buy” Rating from HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $25.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 242.70% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, September 9th. Wall Street Zen raised Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, August 18th. Finally, BTIG Research reissued a “buy” rating and issued a $44.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.60.

Cartesian Therapeutics Stock Up 0.8%

Shares of RNAC traded up $0.06 on Wednesday, hitting $7.30. 14,847 shares of the stock traded hands, compared to its average volume of 198,902. The firm has a market capitalization of $220.71 million, a P/E ratio of -1.23 and a beta of 0.62. Cartesian Therapeutics has a 1 year low of $5.60 and a 1 year high of $11.00. The stock’s 50 day moving average is $8.60 and its two-hundred day moving average is $7.97.

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

Institutional Investors Weigh In On Cartesian Therapeutics

Several large investors have recently made changes to their positions in RNAC. Squarepoint Ops LLC raised its stake in shares of Cartesian Therapeutics by 0.7% in the 2nd quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company’s stock valued at $23,493,000 after acquiring an additional 16,133 shares during the period. 683 Capital Management LLC boosted its position in Cartesian Therapeutics by 21.7% during 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 period. Erste Asset Management GmbH increased its holdings in Cartesian Therapeutics by 4.5% in the 4th quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock valued at $1,956,000 after purchasing an additional 11,694 shares in the last quarter. Renaissance Technologies LLC raised its position in Cartesian Therapeutics by 63.7% in the first quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock valued at $414,000 after purchasing an additional 26,200 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Cartesian Therapeutics in the second quarter valued at about $332,000. Institutional investors and hedge funds 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.