Cartesian Therapeutics (NASDAQ:RNAC) Now Covered by SVB Leerink

Research analysts at SVB Leerink started coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $39.00 price target on the stock. SVB Leerink’s price objective indicates a potential upside of 88.22% from the stock’s current price.

Other analysts have also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Cartesian Therapeutics in a research report on Monday, March 18th. Needham & Company LLC started coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They issued a “buy” rating and a $42.00 price objective for the company.

Cartesian Therapeutics Stock Up 0.6 %

RNAC stock opened at $20.72 on Tuesday. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60. The firm’s 50-day moving average price is $19.29.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($2.10). The business had revenue of $8.27 million during the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. On average, research analysts anticipate that Cartesian Therapeutics will post -1.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Timothy A. Springer acquired 21,612 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the transaction, the director now directly owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 22,472 shares of company stock worth $365,981 over the last quarter. Company insiders own 31.20% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

An institutional investor recently bought a new position in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned approximately 0.98% of Cartesian Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 86.95% of the company’s stock.

About Cartesian Therapeutics

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.