Cartesian Therapeutics’ (RNAC) “Outperform” Rating Reiterated at Wedbush

by · The Markets Daily

Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a note issued to investors on Tuesday,Benzinga reports. They currently have a $38.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 321.29% from the company’s previous close.

RNAC has been the topic of several other research reports. BTIG Research reaffirmed a “buy” rating on shares of Cartesian Therapeutics in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of Cartesian Therapeutics in a research note on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. HC Wainwright cut their price objective on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, Cantor Fitzgerald raised Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price target for the company in a report on Monday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.00.

View Our Latest Stock Report on Cartesian Therapeutics

Cartesian Therapeutics Price Performance

NASDAQ RNAC opened at $9.02 on Tuesday. The business has a 50 day simple moving average of $7.21 and a 200 day simple moving average of $8.17. The stock has a market capitalization of $234.52 million, a P/E ratio of -5.78 and a beta of 0.41. Cartesian Therapeutics has a one year low of $5.98 and a one year high of $18.80.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, CFO Blaine Davis sold 10,591 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total transaction of $72,230.62. Following the completion of the transaction, the chief financial officer owned 121,220 shares of the company’s stock, valued at $826,720.40. This represents a 8.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 60.30% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC grew its holdings in Cartesian Therapeutics by 12.5% in the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after purchasing an additional 1,023 shares during the period. Miller Financial Services LLC lifted its stake in shares of Cartesian Therapeutics by 17.2% in the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after buying an additional 2,000 shares in the last quarter. AlphaQuest LLC raised its holdings in Cartesian Therapeutics by 64.6% in the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after acquiring an additional 2,717 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Cartesian Therapeutics by 27.5% in the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after purchasing an additional 2,805 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Cartesian Therapeutics by 49.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after purchasing an additional 3,878 shares during the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Company Profile

(Get Free Report)

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.

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