Cartesian Therapeutics (NASDAQ:RNAC) Rating Reiterated by Needham & Company LLC

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They presently have a $42.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 166.33% from the stock’s previous close.

RNAC has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $54.00 price objective on shares of Cartesian Therapeutics in a research note on Monday, June 17th. Oppenheimer restated an “outperform” rating and issued a $50.00 price objective on shares of Cartesian Therapeutics in a research note on Monday, June 24th. Leerink Partnrs restated an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. SVB Leerink started coverage on Cartesian Therapeutics in a research note on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 price objective for the company. Finally, Mizuho started coverage on Cartesian Therapeutics in a research note on Friday, May 24th. They set a “buy” rating and a $40.00 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Cartesian Therapeutics Trading Down 35.0 %

Shares of Cartesian Therapeutics stock opened at $15.77 on Monday. The stock has a fifty day simple moving average of $26.06 and a 200 day simple moving average of $22.45. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The business had revenue of $5.84 million during the quarter. On average, research analysts anticipate that Cartesian Therapeutics will post 2.28 earnings per share for the current year.

Institutional Trading of Cartesian Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new stake in Cartesian Therapeutics during the 1st quarter worth about $4,105,000. American International Group Inc. purchased a new stake in Cartesian Therapeutics during the 1st quarter worth about $37,000. SG Americas Securities LLC purchased a new stake in Cartesian Therapeutics during the 1st quarter worth about $31,000. Artal Group S.A. purchased a new stake in Cartesian Therapeutics during the 1st quarter worth about $5,939,000. Finally, BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics during the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.