Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Average Recommendation of “Moderate Buy” from Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $32.60.

Several brokerages recently commented on RNAC. BTIG Research reaffirmed a “buy” rating and issued a $44.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Friday, March 27th. Cantor Fitzgerald raised shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price on the stock in a research note on Monday, March 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday. Finally, HC Wainwright reduced their price objective on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th.

Cartesian Therapeutics Stock Up 16.9%

Shares of NASDAQ RNAC opened at $6.85 on Wednesday. Cartesian Therapeutics has a 52 week low of $5.60 and a 52 week high of $15.57. The firm’s fifty day moving average is $6.82 and its 200 day moving average is $7.07. The company has a market cap of $201.25 million, a price-to-earnings ratio of -1.16 and a beta of 0.66.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, April 30th. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.22 million. Equities research analysts anticipate that Cartesian Therapeutics will post -4.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Privium Fund Management B.V. purchased a new position in Cartesian Therapeutics during the 4th quarter valued at $1,244,000. R Squared Ltd purchased a new position in Cartesian Therapeutics during the 4th quarter valued at $74,000. GSA Capital Partners LLP increased its position in Cartesian Therapeutics by 106.9% during the 3rd quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock valued at $880,000 after purchasing an additional 44,493 shares during the period. AlphaQuest LLC increased its position in Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Cartesian Therapeutics during the 4th quarter valued at $131,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Company Profile

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.