Cartesian Therapeutics (NASDAQ:RNAC) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Cartesian Therapeutics (NASDAQ:RNAC) from a strong sell rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

RNAC has been the topic of a number of other reports. Weiss Ratings upgraded shares of Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 14th. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Cartesian Therapeutics in a research report on Wednesday, June 10th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Finally, HC Wainwright lowered their price objective on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Cartesian Therapeutics Price Performance

Cartesian Therapeutics stock opened at $7.73 on Wednesday. The business has a 50 day simple moving average of $8.42 and a 200 day simple moving average of $7.51. The company has a market capitalization of $227.11 million, a PE ratio of -1.31 and a beta of 0.59. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $13.21.

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

Institutional Trading of Cartesian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RNAC. R Squared Ltd bought a new position in Cartesian Therapeutics during the fourth quarter worth $74,000. Sei Investments Co. acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter worth about $78,000. Wells Fargo & Company MN boosted its holdings in shares of Cartesian Therapeutics by 49.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after buying an additional 3,878 shares during the period. Miller Financial Services LLC grew its stake in Cartesian Therapeutics by 17.2% in the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after buying an additional 2,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Cartesian Therapeutics in the 4th quarter valued at about $112,000. Institutional investors own 86.95% of the company’s stock.

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.