Cartesian Therapeutics, Inc. (NASDAQ:RNAC – Get Free Report) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $32.60.
A number of equities analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, August 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, September 29th. Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, September 9th. Finally, Zacks Research raised shares of Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th.
Get Our Latest Report on Cartesian Therapeutics
Cartesian Therapeutics Stock Performance
Shares of RNAC opened at $6.08 on Tuesday. The company has a 50-day moving average of $8.24 and a two-hundred day moving average of $7.98. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $11.00.
Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of ($0.88) by $1.34. On average, equities research analysts expect that Cartesian Therapeutics will post -3.15 earnings per share for the current year.
Institutional Investors Weigh In On Cartesian Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC lifted its stake in shares of Cartesian Therapeutics by 0.7% during the second 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. 683 Capital Management LLC boosted its position in Cartesian Therapeutics by 21.7% during the fourth 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. Renaissance Technologies LLC boosted its position in Cartesian Therapeutics by 63.7% during the first quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock worth $414,000 after acquiring an additional 26,200 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Cartesian Therapeutics in the 2nd quarter worth approximately $332,000. Finally, Sei Investments Co. purchased a new stake in Cartesian Therapeutics in the 1st quarter worth approximately $78,000. 86.95% of the stock is currently owned by hedge funds and other institutional investors.
Cartesian Therapeutics Company Profile
Cartesian Therapeutics, Inc is a clinical-stage biotechnology company focused on developing mRNA cell therapies for autoimmune diseases. The company’s platform is designed to genetically program a patient’s own T cells with messenger RNA, enabling the development of transiently engineered cell therapies that may be administered without permanent genetic modification.
Cartesian’s lead product candidate is Descartes-08, an autologous anti-BCMA CAR T-cell therapy being developed for autoimmune conditions, including generalized myasthenia gravis and systemic lupus erythematosus.
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