Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Target Price at $43.00

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.00.

A number of equities research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Oppenheimer downgraded shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. TD Cowen began coverage on shares of Cartesian Therapeutics in a report on Tuesday, August 6th. They set a “buy” rating on the stock. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of Cartesian Therapeutics in a report on Friday, September 13th. Finally, Needham & Company LLC lowered their price objective on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Cartesian Therapeutics Stock Performance

RNAC stock opened at $22.16 on Monday. The firm has a 50 day simple moving average of $15.78 and a 200 day simple moving average of $19.80. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $1.35. The company had revenue of $33.45 million for the quarter, compared to the consensus estimate of $6.00 million. On average, sell-side analysts forecast that Cartesian Therapeutics will post 3.99 earnings per share for the current year.

Insiders Place Their Bets

In other Cartesian Therapeutics news, Director Timothy A. Springer bought 80,301 shares of the business’s stock in a transaction on Friday, October 4th. The stock was purchased at an average cost of $22.58 per share, for a total transaction of $1,813,196.58. Following the completion of the purchase, the director now directly owns 8,023,766 shares of the company’s stock, valued at approximately $181,176,636.28. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Cartesian Therapeutics news, Director Timothy A. Springer bought 80,301 shares of the business’s stock in a transaction on Friday, October 4th. The stock was purchased at an average cost of $22.58 per share, for a total transaction of $1,813,196.58. Following the completion of the purchase, the director now directly owns 8,023,766 shares of the company’s stock, valued at approximately $181,176,636.28. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy A. Springer bought 5,514 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $17.38 per share, with a total value of $95,833.32. Following the completion of the purchase, the director now directly owns 7,823,559 shares of the company’s stock, valued at approximately $135,973,455.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 93,831 shares of company stock worth $2,010,993 over the last three months. Insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

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

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.