Cartesian Therapeutics’ (RNAC) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note published on Tuesday,Benzinga reports. They currently have a $45.00 price target on the stock.

Several other research analysts have also weighed in on RNAC. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Monday. Finally, BTIG Research initiated coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Cartesian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $42.86.

Cartesian Therapeutics Price Performance

Cartesian Therapeutics stock opened at $19.99 on Tuesday. The firm has a market capitalization of $508.15 million, a PE ratio of -0.38 and a beta of 0.56. The company’s 50-day moving average is $19.05 and its 200-day moving average is $17.96. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $41.87.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, insider Milos Miljkovic sold 35,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the sale, the insider now owns 18,273 shares of the company’s stock, valued at $294,743.49. The trade was a 65.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Metin Kurtoglu sold 2,458 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $41,368.14. Following the completion of the sale, the chief technology officer now directly owns 62,258 shares of the company’s stock, valued at $1,047,802.14. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,833 shares of company stock valued at $2,416,892 in the last quarter. Company insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Logos Global Management LP bought a new stake in shares of Cartesian Therapeutics during the 2nd quarter worth approximately $2,431,000. FMR LLC lifted its holdings in shares of Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after acquiring an additional 2,341,054 shares during the period. Marshall Wace LLP bought a new stake in shares of Cartesian Therapeutics during the 2nd quarter worth approximately $811,000. BNP Paribas Financial Markets lifted its holdings in shares of Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after acquiring an additional 909 shares during the period. Finally, State Street Corp lifted its holdings in shares of Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after acquiring an additional 3,830 shares during the period. 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.