Cartesian Therapeutics (NASDAQ:RNAC) Earns Buy Rating from HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $25.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 234.22% from the stock’s previous close.

RNAC has been the subject of several other research reports. BTIG Research reissued a “buy” rating and set a $44.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Cartesian Therapeutics Stock Performance

Shares of Cartesian Therapeutics stock traded up $0.24 during trading hours on Wednesday, hitting $7.48. The company’s stock had a trading volume of 85,478 shares, compared to its average volume of 199,281. The firm has a fifty day moving average of $8.60 and a 200-day moving average of $7.97. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $11.00. The stock has a market cap of $226.31 million, a price-to-earnings ratio of -1.26 and a beta of 0.62.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $1.34. On average, sell-side analysts expect that Cartesian Therapeutics will post -3.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds have recently made changes to their positions in the stock. Miller Financial Services LLC lifted its stake in Cartesian Therapeutics by 17.2% during the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after purchasing an additional 2,000 shares during the period. Erste Asset Management GmbH raised its position in shares of Cartesian Therapeutics by 4.5% during the fourth quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock worth $1,956,000 after acquiring an additional 11,694 shares during the last quarter. Sei Investments Co. acquired a new stake in Cartesian Therapeutics during the 1st quarter worth $78,000. Squarepoint Ops LLC grew its holdings in Cartesian Therapeutics by 0.7% during the 2nd quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company’s stock worth $23,493,000 after acquiring an additional 16,133 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of 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 period. Institutional investors 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.