HC Wainwright Increases Cartesian Therapeutics (NASDAQ:RNAC) Price Target to $54.00

Cartesian Therapeutics (NASDAQ:RNAC) had its price target upped by equities research analysts at HC Wainwright from $2.00 to $54.00 in a research note issued on Tuesday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 160.62% from the company’s previous close. HC Wainwright also issued estimates for Cartesian Therapeutics’ Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.52) EPS and Q4 2025 earnings at ($0.58) EPS.

Other research analysts have also issued reports about the stock. Needham & Company LLC began coverage on shares of Cartesian Therapeutics in a report on Tuesday, April 9th. They set a “buy” rating and a $42.00 price objective on the stock. SVB Leerink initiated coverage on Cartesian Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $39.00 price objective on the stock.

Cartesian Therapeutics Stock Performance

Shares of RNAC opened at $20.72 on Tuesday. The firm has a fifty day moving average price of $19.29. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60.

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

Insider Activity

In other news, Director Timothy A. Springer purchased 21,612 shares of Cartesian Therapeutics stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $16.20 per share, for a total transaction of $350,114.40. Following the acquisition, the director now directly owns 1,017,228 shares in the company, valued at $16,479,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 22,472 shares of company stock worth $365,981 in the last three months. 31.20% of the stock is owned by insiders.

Institutional Investors 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) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned about 0.98% of Cartesian Therapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

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.