Cartesian Therapeutics (NASDAQ:RNAC) Stock Rating Upgraded by Wall Street Zen

Cartesian Therapeutics (NASDAQ:RNAC) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Sunday.

Other analysts have also issued reports about the company. BTIG Research reissued a “buy” rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Cantor Fitzgerald upgraded Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price objective on the stock in a research report on Monday, March 9th. Finally, HC Wainwright reduced their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Cartesian Therapeutics Trading Up 18.0%

Shares of RNAC opened at $9.51 on Friday. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $15.57. The stock’s 50 day moving average is $6.95 and its two-hundred day moving average is $7.09. The firm has a market cap of $279.40 million, a P/E ratio of -1.61 and a beta of 0.66.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The business had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.22 million. Equities research analysts forecast that Cartesian Therapeutics will post -4.09 EPS for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. AlphaQuest LLC raised its position in Cartesian Therapeutics by 64.6% in the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares during the period. R Squared Ltd purchased a new stake in Cartesian Therapeutics in the fourth quarter valued at $74,000. Sei Investments Co. purchased a new stake in Cartesian Therapeutics in the first quarter valued at $78,000. Wells Fargo & Company MN raised its position in Cartesian Therapeutics by 49.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock valued at $85,000 after purchasing an additional 3,878 shares during the period. Finally, Miller Financial Services LLC raised its holdings in shares of Cartesian Therapeutics by 17.2% in the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

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.