Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $32.60 Average Price Target from Brokerages

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $32.60.

RNAC has been the subject of several research reports. Zacks Research raised shares of Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. HC Wainwright decreased their price target on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, August 18th.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $9.60 on Monday. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $11.00. The company has a market cap of $290.40 million, a price-to-earnings ratio of -1.62 and a beta of 0.63. The stock has a fifty day simple moving average of $9.11 and a 200-day simple moving average of $7.81.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $1.34. As a group, equities research analysts predict that Cartesian Therapeutics will post -3.11 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RNAC. R Squared Ltd bought a new position in Cartesian Therapeutics during the 4th quarter worth about $74,000. Sei Investments Co. purchased a new stake in shares of Cartesian Therapeutics in the 1st quarter worth approximately $78,000. Wells Fargo & Company MN lifted its position 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 purchasing an additional 3,878 shares during the period. Miller Financial Services LLC boosted its stake in shares of Cartesian Therapeutics by 17.2% during the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Cartesian Therapeutics during the fourth quarter valued at approximately $112,000. 86.95% of the stock is currently owned by institutional investors.

Cartesian Therapeutics Company Profile

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.