Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.00.

RNAC has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and set a $38.00 target price on shares of Cartesian Therapeutics in a research report on Friday, May 1st. Cantor Fitzgerald raised shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price target for the company in a report on Monday, March 9th. Needham & Company LLC restated a “buy” rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a research report on Monday, March 9th. BTIG Research reiterated a “buy” rating on shares of Cartesian Therapeutics in a research report on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Friday, March 27th.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its position in Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares during the period. R Squared Ltd acquired a new stake in shares of Cartesian Therapeutics during the 4th quarter worth approximately $74,000. Sei Investments Co. acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter worth approximately $78,000. Wells Fargo & Company MN raised its stake in shares of Cartesian Therapeutics by 49.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after buying an additional 3,878 shares during the last quarter. Finally, Miller Financial Services LLC lifted its holdings in Cartesian Therapeutics by 17.2% in the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after buying an additional 2,000 shares during the period. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Stock Down 10.8%

Cartesian Therapeutics stock opened at $7.38 on Friday. The stock has a 50-day simple moving average of $6.97 and a 200 day simple moving average of $7.21. The stock has a market capitalization of $216.82 million, a price-to-earnings ratio of -1.25 and a beta of 0.58. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.62). The business had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.22 million. As a group, sell-side analysts anticipate that Cartesian Therapeutics will post -4.02 EPS for the current year.

Cartesian Therapeutics Company Profile

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.