Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $40.00.

Several research firms recently commented on RNAC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, October 8th. Wedbush began coverage on shares of Cartesian Therapeutics in a research report on Wednesday, July 9th. They issued an “outperform” rating and a $38.00 price objective on the stock.

Cartesian Therapeutics Stock Down 0.5%

Cartesian Therapeutics stock opened at $8.13 on Tuesday. Cartesian Therapeutics has a 52 week low of $7.75 and a 52 week high of $26.50. The firm’s 50-day simple moving average is $9.65 and its 200 day simple moving average is $10.62. The firm has a market capitalization of $211.40 million, a PE ratio of -9.34 and a beta of 0.39.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of ($0.76) by $1.26. The business had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.77 million. On average, research analysts expect that Cartesian Therapeutics will post 4.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. AlphaQuest LLC lifted its stake in shares of Cartesian Therapeutics by 64.6% during the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after buying an additional 2,717 shares during the period. Bank of America Corp DE raised its holdings in Cartesian Therapeutics by 133.0% in the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock valued at $145,000 after acquiring an additional 7,952 shares during the last quarter. 683 Capital Management LLC lifted its stake in shares of Cartesian Therapeutics by 46.0% during the 2nd quarter. 683 Capital Management LLC now owns 219,000 shares of the company’s stock worth $2,275,000 after purchasing an additional 69,000 shares during the period. Marshall Wace LLP lifted its stake in shares of Cartesian Therapeutics by 114.0% during the 2nd quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock worth $859,000 after purchasing an additional 44,025 shares during the period. Finally, Virtus Investment Advisers LLC boosted its holdings in shares of Cartesian Therapeutics by 12.5% during the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after purchasing an additional 1,023 shares during the last quarter. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

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.