Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $43.83.

A number of equities research analysts have recently weighed in on the company. Leerink Partnrs reissued an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. Canaccord Genuity Group boosted their price target on Cartesian Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. HC Wainwright reduced their price target on Cartesian Therapeutics from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Oppenheimer downgraded Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Finally, Mizuho began coverage on Cartesian Therapeutics in a report on Friday, May 24th. They set a “buy” rating and a $40.00 price target on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Artal Group S.A. bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth approximately $5,939,000. Vanguard Group Inc. bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth approximately $4,105,000. Delphi Financial Group Inc. bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth approximately $430,000. BNP Paribas Financial Markets bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth approximately $38,000. Finally, American International Group Inc. bought a new position in shares of Cartesian Therapeutics in the 1st quarter worth approximately $37,000. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Price Performance

NASDAQ RNAC opened at $17.49 on Wednesday. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $42.60. The stock has a 50-day moving average of $23.85 and a 200-day moving average of $21.98.

Cartesian Therapeutics (NASDAQ:RNAC) last released its earnings results on Wednesday, May 8th. The company reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The firm had revenue of $5.84 million during the quarter. As a group, equities research analysts forecast that Cartesian Therapeutics will post 2.67 earnings per share for the current year.

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.