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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.00.

RNAC has been the topic of several analyst reports. Wall Street Zen downgraded Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. HC Wainwright lowered their price objective 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Tuesday. Finally, BTIG Research raised their target price on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, November 14th.

Cartesian Therapeutics Stock Performance

NASDAQ RNAC opened at $7.60 on Friday. The firm has a market cap of $197.63 million, a PE ratio of -4.87 and a beta of 0.44. Cartesian Therapeutics has a one year low of $5.98 and a one year high of $26.50. The firm’s fifty day moving average is $8.76 and its two-hundred day moving average is $10.15.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.57). The firm had revenue of $0.45 million for the quarter, compared to analyst estimates of $0.18 million. Research analysts predict that Cartesian Therapeutics will post 4.56 earnings per share for the current year.

Hedge Funds Weigh In On Cartesian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. Virtus Investment Advisers LLC lifted its holdings in shares of Cartesian Therapeutics by 12.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock valued at $95,000 after buying an additional 1,023 shares during the period. Bank of New York Mellon Corp raised its position in Cartesian Therapeutics by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 20,937 shares of the company’s stock worth $276,000 after acquiring an additional 1,530 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cartesian Therapeutics by 9.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,303 shares of the company’s stock valued at $386,000 after acquiring an additional 2,500 shares during the period. AlphaQuest LLC boosted its position in shares of Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after purchasing an additional 2,717 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Cartesian Therapeutics by 27.5% during the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after purchasing an additional 2,805 shares during the period. Institutional investors and hedge funds own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.