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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $32.60.

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, June 10th. Cantor Fitzgerald upgraded Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research note on Monday, March 9th. Wall Street Zen upgraded Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday. Finally, BTIG Research reiterated a “buy” rating and issued a $44.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of large investors have recently modified their holdings of the stock. Miller Financial Services LLC grew its stake in shares of Cartesian Therapeutics by 17.2% in the fourth 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 in the last quarter. AlphaQuest LLC grew its stake in shares of 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 buying an additional 2,717 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Cartesian Therapeutics by 27.5% in the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after buying an additional 2,805 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of 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 buying an additional 3,878 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Cartesian Therapeutics by 133.0% during the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock valued at $145,000 after purchasing an additional 7,952 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Price Performance

Cartesian Therapeutics stock opened at $9.51 on Wednesday. The stock’s 50-day moving average is $6.95 and its 200-day moving average is $7.09. The company has a market cap of $279.40 million, a price-to-earnings ratio of -1.61 and a beta of 0.66. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $15.57.

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

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.