Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $33.00 Consensus Target Price from Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $33.00.

A number of brokerages have issued reports on RNAC. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research report on Monday, March 9th. HC Wainwright cut their target price on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of Cartesian Therapeutics in a research report on Monday, March 9th. Finally, BTIG Research restated a “buy” rating on shares of Cartesian Therapeutics in a research report on Monday, March 9th.

Cartesian Therapeutics Trading Up 1.0%

Shares of RNAC opened at $6.75 on Friday. The stock has a market cap of $198.32 million, a P/E ratio of -1.14 and a beta of 0.58. The company has a 50-day moving average of $6.84 and a two-hundred day moving average of $7.15. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $15.57.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.62). The business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.22 million. As a group, analysts forecast that Cartesian Therapeutics will post -4.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cartesian Therapeutics by 4.9% in the third quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock valued at $5,322,000 after buying an additional 24,356 shares during the last quarter. 683 Capital Management LLC raised its position in shares of Cartesian Therapeutics by 21.7% in the fourth quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after buying an additional 50,000 shares during the last quarter. Erste Asset Management GmbH raised its position in shares of Cartesian Therapeutics by 4.5% in the fourth quarter. Erste Asset Management GmbH now owns 271,705 shares of the company’s stock valued at $1,956,000 after buying an additional 11,694 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cartesian Therapeutics by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock valued at $1,843,000 after buying an additional 13,710 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Cartesian Therapeutics by 110.1% in the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock valued at $1,284,000 after buying an additional 93,334 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.