Cartesian Therapeutics’ (RNAC) “Buy” Rating Reaffirmed at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $25.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 244.12% from the company’s current price.

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

Cartesian Therapeutics Stock Up 0.3%

Shares of NASDAQ:RNAC traded up $0.03 during midday trading on Wednesday, hitting $7.27. The stock had a trading volume of 117,052 shares, compared to its average volume of 199,483. The company’s 50-day moving average price is $8.60 and its 200-day moving average price is $7.97. The company has a market capitalization of $219.80 million, a P/E ratio of -1.22 and a beta of 0.62. Cartesian Therapeutics has a fifty-two week low of $5.60 and a fifty-two week high of $11.00.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of ($0.88) by $1.34. Research analysts expect that Cartesian Therapeutics will post -3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RNAC. 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 last quarter. Bank of New York Mellon Corp bought a new stake in Cartesian Therapeutics during the 2nd quarter worth approximately $332,000. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 26,200 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Cartesian Therapeutics in the 1st quarter valued at $78,000. Finally, 683 Capital Management LLC boosted its stake in shares of Cartesian Therapeutics by 21.7% in 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 during the last quarter. 86.95% of the stock is owned by institutional investors.

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.