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

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $25.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 246.74% from the stock’s previous close.

RNAC has been the subject of a number of other research reports. Zacks Research raised shares of Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, September 9th. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, August 18th. Finally, BTIG Research reissued a “buy” rating and set a $44.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC traded down $0.03 during trading hours 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. The company has a market cap of $218.14 million, a price-to-earnings ratio of -1.21 and a beta of 0.62. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $11.00. The business’s 50-day moving average is $8.58 and its 200-day moving average is $7.96.

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. On average, sell-side analysts predict that Cartesian Therapeutics will post -3.15 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its stake in Cartesian Therapeutics by 0.7% in the second quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company’s stock valued at $23,493,000 after acquiring an additional 16,133 shares during the period. 683 Capital Management LLC increased its stake in Cartesian Therapeutics by 21.7% in the fourth quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after acquiring an additional 50,000 shares during the period. Erste Asset Management GmbH increased its stake in Cartesian Therapeutics by 4.5% in the fourth quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock valued at $1,956,000 after acquiring an additional 11,694 shares during the period. Renaissance Technologies LLC increased its stake in Cartesian Therapeutics by 63.7% in the first quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock valued at $414,000 after acquiring an additional 26,200 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Cartesian Therapeutics during the second quarter worth about $332,000. Institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.