Analysts Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Target Price at $45.00

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $43.83.

A number of brokerages recently commented on RNAC. HC Wainwright reduced their price objective on shares of Cartesian Therapeutics from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday. Mizuho began coverage on shares of Cartesian Therapeutics in a report on Friday, May 24th. They issued a “buy” rating and a $40.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a research note on Monday. SVB Leerink began coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. They set an “outperform” rating and a $39.00 target price on the stock. Finally, Oppenheimer cut shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC opened at $17.62 on Friday. The stock’s 50 day simple moving average is $26.00 and its 200-day simple moving average is $22.41. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The business had revenue of $5.84 million for the quarter. On average, analysts forecast that Cartesian Therapeutics will post 2.28 earnings per share for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

Large investors have recently added to or reduced their stakes in the business. Artal Group S.A. acquired a new position in Cartesian Therapeutics during the first quarter worth about $5,939,000. Vanguard Group Inc. purchased a new position in shares of Cartesian Therapeutics during the 1st quarter worth approximately $4,105,000. Delphi Financial Group Inc. acquired a new position in shares of Cartesian Therapeutics during the 1st quarter worth approximately $430,000. BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics in the 1st quarter valued at approximately $38,000. Finally, American International Group Inc. acquired a new stake in Cartesian Therapeutics during the 1st quarter valued at $37,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Cartesian Therapeutics Company Profile

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.