Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Wednesday,Benzinga reports. They presently have a $38.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 391.78% from the stock’s current price.
RNAC has been the subject of several other research reports. BTIG Research reissued a “buy” rating and set a $44.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday. Cantor Fitzgerald upgraded Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price on the stock in a research note on Monday, March 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a report on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. Finally, HC Wainwright cut their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.
Read Our Latest Report on RNAC
Cartesian Therapeutics Stock Performance
Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share 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 analysts’ expectations of $0.22 million. On average, research analysts predict that Cartesian Therapeutics will post -4.09 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RNAC. Rhumbline Advisers raised its position in Cartesian Therapeutics by 27.5% during the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after purchasing an additional 2,805 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Cartesian Therapeutics by 114.0% in the 2nd quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock worth $859,000 after purchasing an additional 44,025 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Cartesian Therapeutics by 133.0% in the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock worth $145,000 after purchasing an additional 7,952 shares in the last quarter. AlphaQuest LLC increased its position in shares of Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Cartesian Therapeutics by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock valued at $5,322,000 after purchasing an additional 24,356 shares during the last quarter. 86.95% of the stock is currently owned by hedge funds and other institutional investors.
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.
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