Cartesian Therapeutics (NASDAQ:RNAC) Stock Rating Reaffirmed as Buy by HC Wainwright

by · The Markets Daily

Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $25.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 245.30% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. BTIG Research reaffirmed a “buy” rating and set a $44.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cartesian Therapeutics in a research note on Wednesday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Cartesian Therapeutics in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

View Our Latest Report on RNAC

Cartesian Therapeutics Price Performance

Shares of RNAC opened at $7.24 on Wednesday. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $11.00. The company has a 50-day moving average of $8.60 and a two-hundred day moving average of $7.97. The stock has a market cap of $219.05 million, a price-to-earnings ratio of -1.22 and a beta of 0.62.

Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $1.34. Analysts anticipate that Cartesian Therapeutics will post -3.15 earnings per share for the current year.

Institutional Trading of Cartesian Therapeutics

Large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC increased its holdings in shares of Cartesian Therapeutics by 0.7% during the 2nd quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company’s stock valued at $23,493,000 after acquiring an additional 16,133 shares during the last quarter. 683 Capital Management LLC grew its holdings in Cartesian Therapeutics by 21.7% during the fourth quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after purchasing an additional 50,000 shares during the last quarter. Erste Asset Management GmbH raised its position in shares of Cartesian Therapeutics by 4.5% in the fourth quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock valued at $1,956,000 after purchasing an additional 11,694 shares during the period. Renaissance Technologies LLC lifted its position in Cartesian Therapeutics by 63.7% during the 1st quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock worth $414,000 after acquiring an additional 26,200 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Cartesian Therapeutics during the 2nd quarter valued at approximately $332,000. Institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

(Get Free Report)

Cartesian Therapeutics, Inc (NASDAQ: RNAC) is a clinical-stage biotechnology company developing cell therapies for autoimmune diseases. Its research focuses on mRNA cell therapy, an approach designed to program a patient’s own immune cells to target disease-related proteins while enabling transient expression of the therapeutic construct.

The company’s lead program, Descartes-08, is an autologous anti-BCMA CAR T-cell therapy that uses mRNA to direct T cells against B-cell maturation antigen.

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