Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.60.

Several research firms have commented on RNAC. Weiss Ratings raised shares of Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Cantor Fitzgerald raised shares of 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. Wall Street Zen raised shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday. 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. Finally, HC Wainwright lowered their price target on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th.

Cartesian Therapeutics Price Performance

Shares of RNAC opened at $9.05 on Wednesday. The stock has a 50-day moving average of $7.05 and a 200-day moving average of $7.11. The company has a market cap of $265.91 million, a PE ratio of -1.53 and a beta of 0.66. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.62). The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.22 million. Analysts expect that Cartesian Therapeutics will post -4.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Privium Fund Management B.V. purchased a new position in shares of Cartesian Therapeutics during the 4th quarter valued at $1,244,000. Millennium Management LLC grew its position in shares of 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 position in shares of 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 position in shares of 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 position in shares of 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. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

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.