Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Rating of “Moderate Buy” by Brokerages

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $38.50.

A number of equities analysts have recently issued reports on the company. Needham & Company LLC increased their target price on Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 9th. BTIG Research upped their target price on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Wall Street Zen downgraded shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. HC Wainwright reduced their price target on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Monday, December 29th.

Insider Buying and Selling

In related news, CFO Blaine Davis sold 10,591 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total value of $72,230.62. Following the transaction, the chief financial officer owned 121,220 shares in the company, valued at $826,720.40. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 60.30% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in Cartesian Therapeutics by 548.2% during the fourth quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after acquiring an additional 139,009 shares in the last quarter. 683 Capital Management LLC grew its position in shares of Cartesian Therapeutics by 21.7% in the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after purchasing an additional 50,000 shares during the period. Jain Global LLC bought a new stake in Cartesian Therapeutics during the 4th quarter worth approximately $121,000. Public Employees Retirement System of Ohio acquired a new stake in Cartesian Therapeutics during the 4th quarter worth approximately $112,000. Finally, Squarepoint Ops LLC bought a new position in Cartesian Therapeutics in the fourth quarter valued at approximately $131,000. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC opened at $7.45 on Monday. Cartesian Therapeutics has a one year low of $5.98 and a one year high of $18.97. The company has a fifty day moving average price of $7.09 and a 200 day moving average price of $8.32. The stock has a market cap of $193.63 million, a P/E ratio of -4.68 and a beta of 0.45.

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.