Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Hold” from Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.60.

A number of equities analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Weiss Ratings upgraded shares of Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. 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. Finally, HC Wainwright reduced their target price on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th.

Institutional Trading of Cartesian Therapeutics

A number of large investors have recently bought and sold shares of RNAC. R Squared Ltd bought a new stake in Cartesian Therapeutics in the 4th quarter valued at about $74,000. Wells Fargo & Company MN boosted its position in Cartesian Therapeutics by 49.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after purchasing an additional 3,878 shares during the period. Sei Investments Co. bought a new position in Cartesian Therapeutics during the first quarter worth about $78,000. Rhumbline Advisers increased 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 worth $171,000 after purchasing an additional 2,805 shares in the last quarter. Finally, Miller Financial Services LLC increased 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 worth $98,000 after purchasing an additional 2,000 shares in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Trading Down 5.7%

Shares of RNAC opened at $9.67 on Friday. The company has a market capitalization of $284.10 million, a price-to-earnings ratio of -1.64 and a beta of 0.59. The stock has a 50 day moving average of $8.21 and a 200 day moving average of $7.40. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $14.56.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) earnings per share 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 analyst estimates of $0.22 million. As a group, equities research analysts predict that Cartesian Therapeutics will post -4.09 earnings per share for the current year.

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.