Cartesian Therapeutics’ (RNAC) Outperform Rating Reaffirmed at Wedbush

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $38.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 478.47% from the company’s current price.

Several other equities analysts have also issued reports on RNAC. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Monday, March 9th. HC Wainwright lowered their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Friday, March 27th. BTIG Research restated a “buy” rating on shares of Cartesian Therapeutics in a research report on Monday, March 9th. Finally, Needham & Company LLC decreased their target price on Cartesian Therapeutics from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $6.57 on Wednesday. Cartesian Therapeutics has a 52-week low of $5.60 and a 52-week high of $15.57. The firm has a 50 day moving average price of $6.79 and a two-hundred day moving average price of $7.12. The firm has a market cap of $193.01 million, a price-to-earnings ratio of -1.11 and a beta of 0.58.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.62). The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.22 million. As a group, equities research analysts predict that Cartesian Therapeutics will post -4.02 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

Large investors have recently made changes to their positions in the company. Privium Fund Management B.V. bought a new stake in Cartesian Therapeutics in the 4th quarter valued at about $1,244,000. Millennium Management LLC raised its stake 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 period. Marshall Wace LLP boosted its holdings in Cartesian Therapeutics by 110.1% in the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after acquiring an additional 93,334 shares in the last quarter. 683 Capital Management LLC grew its stake in Cartesian Therapeutics by 21.7% in the fourth quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after acquiring an additional 50,000 shares during the period. Finally, GSA Capital Partners LLP grew its stake in Cartesian Therapeutics by 106.9% in the third quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock valued at $880,000 after acquiring an additional 44,493 shares during the period. 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.