Cartesian Therapeutics’ (RNAC) “Outperform” Rating Reaffirmed at Wedbush

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $38.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 391.78% from the stock’s current price.

Several other research firms also recently commented on RNAC. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. BTIG Research reiterated a “buy” rating and set a $44.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday. HC Wainwright decreased their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Cantor Fitzgerald upgraded Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Monday, March 9th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC traded up $0.88 during trading on Wednesday, reaching $7.73. 139,566 shares of the stock were exchanged, compared to its average volume of 208,844. Cartesian Therapeutics has a 1-year low of $5.60 and a 1-year high of $15.57. The stock has a fifty day moving average of $6.82 and a two-hundred day moving average of $7.07. The firm has a market cap of $227.02 million, a price-to-earnings ratio of -1.31 and a beta of 0.66.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results 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 analyst estimates of $0.22 million. Sell-side analysts forecast that Cartesian Therapeutics will post -4.09 EPS for the current year.

Institutional Trading of Cartesian Therapeutics

Several hedge funds have recently added to or reduced their stakes in RNAC. AlphaQuest LLC boosted its stake in Cartesian Therapeutics by 64.6% in the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after acquiring an additional 2,717 shares during the last quarter. R Squared Ltd purchased a new position in Cartesian Therapeutics in the fourth quarter valued at approximately $74,000. Sei Investments Co. bought a new position in Cartesian Therapeutics during the first quarter valued at $78,000. Wells Fargo & Company MN grew its holdings in Cartesian Therapeutics by 49.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock valued at $85,000 after purchasing an additional 3,878 shares during the period. Finally, Miller Financial Services LLC increased its position in Cartesian Therapeutics by 17.2% in the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.