Cartesian Therapeutics (NASDAQ:RNAC) Stock Rating Reaffirmed as Buy by HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $25.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 246.74% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. BTIG Research reiterated a “buy” rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, September 9th. Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, August 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $32.60.

Cartesian Therapeutics Stock Down 0.4%

Shares of RNAC stock traded down $0.03 on Wednesday, reaching $7.21. The company’s stock had a trading volume of 166,919 shares, compared to its average volume of 199,770. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $11.00. The company has a market capitalization of $218.14 million, a P/E ratio of -1.21 and a beta of 0.62. The stock’s 50 day simple moving average is $8.60 and its 200-day simple moving average is $7.97.

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

Institutional Trading of Cartesian Therapeutics

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC grew its stake in shares of Cartesian Therapeutics by 0.7% in the second quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company’s stock worth $23,493,000 after purchasing an additional 16,133 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of Cartesian Therapeutics by 21.7% in the fourth quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock worth $2,019,000 after purchasing an additional 50,000 shares during the last quarter. Erste Asset Management GmbH grew its stake in shares of Cartesian Therapeutics by 4.5% in the fourth quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock worth $1,956,000 after purchasing an additional 11,694 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Cartesian Therapeutics by 63.7% in the first quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock worth $414,000 after purchasing an additional 26,200 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Cartesian Therapeutics in the second quarter worth about $332,000. 86.95% of the stock is owned by institutional investors.

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.