Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $43.00 Consensus PT from Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of research firms have issued reports on RNAC. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. Needham & Company LLC dropped their target price on Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th.

Institutional Investors Weigh In On Cartesian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. MPM Bioimpact LLC grew its position in shares of Cartesian Therapeutics by 9.7% in the first quarter. MPM Bioimpact LLC now owns 790,779 shares of the company’s stock valued at $10,422,000 after purchasing an additional 69,640 shares during the period. Erste Asset Management GmbH raised its position in shares of Cartesian Therapeutics by 49.8% during the 1st quarter. Erste Asset Management GmbH now owns 260,011 shares of the company’s stock worth $3,432,000 after purchasing an additional 86,445 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cartesian Therapeutics by 63.0% in the 4th quarter. Geode Capital Management LLC now owns 221,257 shares of the company’s stock valued at $3,963,000 after buying an additional 85,557 shares in the last quarter. 683 Capital Management LLC boosted its holdings in Cartesian Therapeutics by 20.0% in the 1st quarter. 683 Capital Management LLC now owns 150,000 shares of the company’s stock worth $1,977,000 after buying an additional 25,000 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Cartesian Therapeutics by 50.6% in the 4th quarter. Northern Trust Corp now owns 95,030 shares of the company’s stock worth $1,702,000 after buying an additional 31,915 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Down 1.0%

Shares of NASDAQ:RNAC opened at $10.32 on Friday. The firm has a 50 day moving average of $10.62 and a 200 day moving average of $15.37. The company has a market capitalization of $267.85 million, a price-to-earnings ratio of -0.20 and a beta of 0.33. Cartesian Therapeutics has a 52 week low of $8.46 and a 52 week high of $29.65.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.07). The company had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.69 million. On average, sell-side analysts expect that Cartesian Therapeutics will post 4.56 EPS for the current year.

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.