HC Wainwright Trims Cartesian Therapeutics (NASDAQ:RNAC) Target Price to $45.00

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective trimmed by HC Wainwright from $49.00 to $45.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on RNAC. Mizuho initiated coverage on Cartesian Therapeutics in a research note on Friday, May 24th. They issued a buy rating and a $40.00 target price for the company. Needham & Company LLC cut their price target on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a buy rating for the company in a research report on Friday, August 9th. Oppenheimer downgraded Cartesian Therapeutics from an outperform rating to a market perform rating in a report on Tuesday, July 2nd. TD Cowen started coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They issued a buy rating for the company. Finally, SVB Leerink began coverage on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. They issued an outperform rating and a $39.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $43.00.

Cartesian Therapeutics Price Performance

Shares of NASDAQ RNAC opened at $13.08 on Monday. The business has a 50-day moving average of $19.97 and a 200-day moving average of $21.12. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $1.35. The firm had revenue of $33.45 million during the quarter, compared to the consensus estimate of $6.00 million. Analysts predict that Cartesian Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Timothy A. Springer acquired 8,016 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $12.72 per share, with a total value of $101,963.52. Following the transaction, the director now owns 11,509 shares in the company, valued at approximately $146,394.48. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 61.10% of the stock is owned by insiders.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds have recently modified their holdings of the business. Artal Group S.A. purchased a new position in Cartesian Therapeutics during the 1st quarter valued at about $5,939,000. Vanguard Group Inc. purchased a new position in shares of Cartesian Therapeutics during the first quarter valued at approximately $4,105,000. Delphi Financial Group Inc. bought a new stake in shares of Cartesian Therapeutics in the 1st quarter worth approximately $430,000. Logos Global Management LP purchased a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth approximately $2,431,000. Finally, BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics during the 1st quarter valued at approximately $38,000. Institutional investors own 86.95% of the company’s stock.

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.