HC Wainwright Boosts Cartesian Therapeutics (NASDAQ:RNAC) Price Target to $54.00

Cartesian Therapeutics (NASDAQ:RNAC) had its price target boosted by equities research analysts at HC Wainwright from $2.00 to $54.00 in a note issued to investors on Tuesday, Briefing.com reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 195.73% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC started coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 9th. They set a “buy” rating and a $42.00 price target on the stock. SVB Leerink initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $39.00 target price on the stock.

Cartesian Therapeutics Stock Up 2.0 %

Shares of RNAC stock opened at $18.26 on Tuesday. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The stock’s fifty day simple moving average is $19.33.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($2.10). Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. The company had revenue of $8.27 million for the quarter. Equities analysts expect that Cartesian Therapeutics will post -1.5 EPS for the current year.

Insider Buying and Selling

In other news, Director Timothy A. Springer bought 21,612 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, the director now owns 1,017,228 shares of the company’s stock, valued at $16,479,093.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 22,472 shares of company stock valued at $365,981 in the last 90 days. 31.20% of the stock is owned by insiders.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.