Cartesian Therapeutics (NASDAQ:RNAC) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a report issued on Wednesday morning, Benzinga reports. HC Wainwright currently has a $45.00 target price on the stock.

RNAC has been the subject of a number of other research reports. TD Cowen initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They set a buy rating for the company. Needham & Company LLC dropped 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 cut shares of Cartesian Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday, July 2nd. Mizuho started coverage on Cartesian Therapeutics in a research report on Friday, May 24th. They issued a buy rating and a $40.00 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on Cartesian Therapeutics from $38.00 to $43.00 and gave the company a buy rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $43.00.

Cartesian Therapeutics Price Performance

RNAC opened at $12.98 on Wednesday. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $42.60. The business has a 50 day simple moving average of $15.53 and a 200-day simple moving average of $20.23.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of ($0.81) by $1.35. The business had revenue of $33.45 million during the quarter, compared to analyst estimates of $6.00 million. On average, equities research analysts predict that Cartesian Therapeutics will post 3.99 EPS for the current fiscal year.

Insider Activity at Cartesian Therapeutics

In related news, Director Timothy A. Springer purchased 8,016 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $12.72 per share, for a total transaction of $101,963.52. Following the acquisition, the director now directly owns 11,509 shares in the company, valued at $146,394.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 61.10% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RNAC. BNP Paribas Financial Markets purchased a new position in shares of Cartesian Therapeutics during the 1st quarter valued at approximately $38,000. Delphi Financial Group Inc. acquired a new stake in Cartesian Therapeutics in the 1st quarter valued at approximately $430,000. SG Americas Securities LLC acquired a new position in shares of Cartesian Therapeutics during the first quarter valued at $31,000. Vanguard Group Inc. bought a new stake in shares of Cartesian Therapeutics during the 1st quarter worth about $4,105,000. Finally, American International Group Inc. bought a new position in Cartesian Therapeutics during the 1st quarter valued at $37,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

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.