Cartesian Therapeutics (NASDAQ:RNAC) Price Target Increased to $54.00 by Analysts at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective lifted by HC Wainwright from $2.00 to $54.00 in a report published on Tuesday morning, Marketbeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

RNAC has been the subject of several other research reports. Needham & Company LLC started coverage on Cartesian Therapeutics in a research report on Tuesday, April 9th. They set a buy rating and a $42.00 price target for the company. SVB Leerink began coverage on Cartesian Therapeutics in a research note on Tuesday. They set an outperform rating and a $39.00 price objective on the stock.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $20.59 on Tuesday. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60. The stock has a 50-day simple moving average of $19.32.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $8.27 million during the quarter. Analysts forecast that Cartesian Therapeutics will post -1.5 EPS for the current fiscal year.

Insider Activity

In other Cartesian Therapeutics news, Director Timothy A. Springer acquired 21,612 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the transaction, the director now directly owns 1,017,228 shares in the company, valued at $16,479,093.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 22,472 shares of company stock valued at $365,981 over the last 90 days. Insiders own 31.20% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee acquired a new stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned 0.98% of Cartesian Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.