Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages
by Michael Walen · The Markets DailyCartesian Therapeutics, Inc. (NASDAQ:RNAC – Get Free Report) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $34.00.
RNAC has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. BTIG Research reissued a “buy” rating on shares of Cartesian Therapeutics in a research report on Monday, March 9th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, March 10th. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research note on Monday, March 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $42.00 price target on shares of Cartesian Therapeutics in a research report on Monday, March 9th.
View Our Latest Stock Report on RNAC
Cartesian Therapeutics Trading Down 5.9%
NASDAQ RNAC traded down $0.36 during trading hours on Friday, reaching $5.72. 55,418 shares of the company traded hands, compared to its average volume of 179,409. The stock has a market capitalization of $151.66 million, a PE ratio of -1.13 and a beta of 0.42. Cartesian Therapeutics has a 12 month low of $5.85 and a 12 month high of $15.57. The company has a 50 day moving average of $7.12 and a two-hundred day moving average of $7.89.
Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) last issued its earnings results on Monday, March 9th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.56). The firm had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.10 million. On average, equities research analysts anticipate that Cartesian Therapeutics will post 4.56 earnings per share for the current year.
Insider Transactions at Cartesian Therapeutics
In other Cartesian Therapeutics news, CFO Blaine Davis sold 10,591 shares of Cartesian Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total value of $72,230.62. Following the completion of the transaction, the chief financial officer directly owned 121,220 shares in the company, valued at $826,720.40. The trade was a 8.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 60.30% of the stock is owned by corporate insiders.
Institutional Trading of Cartesian Therapeutics
Several hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC boosted 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. Virtus Investment Advisers LLC lifted its stake in Cartesian Therapeutics by 12.5% in the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock valued at $95,000 after buying an additional 1,023 shares during the last quarter. R Squared Ltd bought a new position in shares of Cartesian Therapeutics during the fourth quarter worth about $74,000. Wells Fargo & Company MN increased its holdings in shares of Cartesian Therapeutics by 49.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after acquiring an additional 3,878 shares during the period. Finally, Rhumbline Advisers lifted its position in Cartesian Therapeutics by 27.5% in the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after purchasing an additional 2,805 shares during the last quarter. 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.