Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Consensus Recommendation of “Hold” by Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has earned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.60.

RNAC has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. BTIG Research reaffirmed a “buy” rating and set a $44.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Zacks Research cut shares of Cartesian Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, June 10th.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Cartesian Therapeutics by 63.7% during the first quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock valued at $414,000 after purchasing an additional 26,200 shares during the period. Sei Investments Co. bought a new position in shares of Cartesian Therapeutics during the 1st quarter valued at approximately $78,000. Millennium Management LLC increased its holdings in Cartesian Therapeutics by 548.2% in the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after acquiring an additional 139,009 shares in the last quarter. 683 Capital Management LLC raised its stake in Cartesian Therapeutics by 21.7% during the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock worth $2,019,000 after acquiring an additional 50,000 shares during the period. Finally, Jain Global LLC purchased a new position in Cartesian Therapeutics during the fourth quarter valued at approximately $121,000. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Trading Down 2.2%

NASDAQ:RNAC traded down $0.21 on Friday, reaching $9.46. 133,007 shares of the stock traded hands, compared to its average volume of 296,698. The company has a market capitalization of $277.93 million, a price-to-earnings ratio of -1.60 and a beta of 0.59. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $14.56. The company’s fifty day simple moving average is $8.27 and its 200 day simple moving average is $7.41.

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

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.