HC Wainwright Reaffirms Buy Rating for Cartesian Therapeutics (NASDAQ:RNAC)

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $25.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 244.07% from the company’s current price.

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

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $7.27 on Wednesday. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $11.00. The firm’s 50 day moving average price is $8.60 and its two-hundred day moving average price is $7.97. The firm has a market cap of $219.83 million, a PE ratio of -1.21 and a beta of 0.62.

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

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds have recently made changes to their positions in the company. 683 Capital Management LLC grew 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 acquiring an additional 50,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cartesian Therapeutics in the second quarter valued at approximately $332,000. Renaissance Technologies LLC boosted 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 valued at $414,000 after buying an additional 26,200 shares during the last quarter. Squarepoint Ops LLC increased 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 buying an additional 16,133 shares during the period. Finally, Sei Investments Co. bought a new stake in Cartesian Therapeutics during the 1st quarter worth about $78,000. 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.