Cartesian Therapeutics’ (RNAC) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note issued to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a $25.00 target price on the stock.

Several other equities research analysts also recently weighed in on RNAC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cartesian Therapeutics in a report on Wednesday, September 9th. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, August 18th. BTIG Research reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday. Finally, Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Five investment 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 data from MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $32.60.

Cartesian Therapeutics Trading Up 1.9%

Shares of NASDAQ:RNAC opened at $7.36 on Wednesday. The company has a market capitalization of $222.68 million, a price-to-earnings ratio of -1.24 and a beta of 0.65. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $11.00. The firm’s 50-day moving average is $8.55 and its 200 day moving average is $7.95.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $1.34. As a group, equities analysts forecast that Cartesian Therapeutics will post -3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors have recently made changes to their positions in the company. Sei Investments Co. purchased a new stake in Cartesian Therapeutics in the first quarter worth about $78,000. Miller Financial Services LLC grew its holdings in Cartesian Therapeutics by 17.2% during the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after acquiring an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Cartesian Therapeutics during the 2nd quarter valued at about $332,000. Renaissance Technologies LLC increased 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 valued at $414,000 after purchasing an additional 26,200 shares during the period. Finally, Erste Asset Management GmbH raised its holdings in shares of Cartesian Therapeutics by 4.5% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.