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

Wedbush reiterated their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note released on Tuesday morning,Benzinga reports. Wedbush currently has a $38.00 price objective on the stock.

A number of other analysts have also issued reports on the company. HC Wainwright cut their target price on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $10.23 on Tuesday. The company’s 50 day simple moving average is $9.03 and its 200-day simple moving average is $7.66. The company has a market capitalization of $309.51 million, a price-to-earnings ratio of -1.72 and a beta of 0.63. Cartesian Therapeutics has a 1 year low of $5.60 and a 1 year high of $11.80.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $1.34. Equities analysts expect that Cartesian Therapeutics will post -3.11 earnings per share for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Privium Fund Management B.V. purchased a new position in Cartesian Therapeutics in the fourth quarter valued at $1,244,000. Millennium Management LLC lifted its holdings in Cartesian Therapeutics by 548.2% during the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after buying an additional 139,009 shares during the last quarter. Marshall Wace LLP lifted its holdings in Cartesian Therapeutics by 110.1% during the 4th quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after buying an additional 93,334 shares during the last quarter. 683 Capital Management LLC boosted its position in shares of Cartesian Therapeutics by 21.7% during the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock worth $2,019,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Cartesian Therapeutics during the 4th quarter worth about $316,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.