Cartesian Therapeutics’ (RNAC) Buy Rating Reiterated at BTIG Research

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a report issued on Tuesday,Benzinga reports. They presently have a $44.00 target price on the stock.

RNAC has been the subject of a number of other research reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a research report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. HC Wainwright reduced their target price on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. 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 report on Monday, March 9th. Finally, Needham & Company LLC reduced their target price on Cartesian Therapeutics from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Cartesian Therapeutics Price Performance

Cartesian Therapeutics stock traded up $1.04 during trading hours on Tuesday, hitting $6.90. The stock had a trading volume of 3,062,718 shares, compared to its average volume of 205,646. The stock has a market capitalization of $202.60 million, a price-to-earnings ratio of -1.17 and a beta of 0.66. Cartesian Therapeutics has a 1-year low of $5.60 and a 1-year high of $15.57. The stock’s fifty day moving average is $6.80 and its two-hundred day moving average is $7.07.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its 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 business had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.22 million. As a group, sell-side analysts anticipate that Cartesian Therapeutics will post -4.09 EPS for the current year.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of large investors have recently modified their holdings of RNAC. Privium Fund Management B.V. purchased a new position in shares of Cartesian Therapeutics in the 4th quarter worth about $1,244,000. Millennium Management LLC grew its stake in Cartesian Therapeutics by 548.2% during the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock valued at $1,185,000 after purchasing an additional 139,009 shares in the last quarter. Marshall Wace LLP grew its stake in Cartesian Therapeutics by 110.1% during the 4th quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock valued at $1,284,000 after purchasing an additional 93,334 shares in the last quarter. 683 Capital Management LLC grew its stake in Cartesian Therapeutics by 21.7% during the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after purchasing an additional 50,000 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in Cartesian Therapeutics by 106.9% during the 3rd quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock valued at $880,000 after purchasing an additional 44,493 shares in the last quarter. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

About Cartesian Therapeutics

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.