Cartesian Therapeutics (NASDAQ:RNAC) Lowered to “Strong Sell” Rating by Zacks Research

Cartesian Therapeutics (NASDAQ:RNAC) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on RNAC. HC Wainwright dropped their price target on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Weiss Ratings raised Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.60.

Cartesian Therapeutics Trading Down 2.3%

NASDAQ RNAC opened at $10.18 on Tuesday. The company has a fifty day simple moving average of $7.81 and a two-hundred day simple moving average of $7.30. The stock has a market cap of $299.09 million, a P/E ratio of -1.73 and a beta of 0.59. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.62). The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.22 million. As a group, sell-side analysts forecast that Cartesian Therapeutics will post -4.09 earnings per share for the current year.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Cartesian Therapeutics during the fourth quarter valued at $74,000. Sei Investments Co. acquired a new position in shares of Cartesian Therapeutics in the first quarter worth about $78,000. Wells Fargo & Company MN raised its position in shares of Cartesian Therapeutics by 49.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after acquiring an additional 3,878 shares during the period. Miller Financial Services LLC boosted its stake in shares of Cartesian Therapeutics by 17.2% during the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Cartesian Therapeutics during the 4th quarter worth about $112,000. 86.95% of the stock is 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.