Cartesian Therapeutics, Inc. (NASDAQ:RNAC – Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,000,000 shares, an increase of 73.9% from the June 30th total of 1,150,000 shares. Based on an average daily volume of 151,800 shares, the days-to-cover ratio is presently 13.2 days. Currently, 28.8% of the company’s shares are sold short.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Oppenheimer cut Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Canaccord Genuity Group raised their target price on Cartesian Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. SVB Leerink assumed coverage on Cartesian Therapeutics in a research report on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 price target on the stock. Mizuho assumed coverage on Cartesian Therapeutics in a research report on Friday, May 24th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.
Get Our Latest Stock Analysis on Cartesian Therapeutics
Institutional Inflows and Outflows
Cartesian Therapeutics Trading Up 5.5 %
NASDAQ:RNAC traded up $0.91 during mid-day trading on Friday, reaching $17.49. 54,688 shares of the stock were exchanged, compared to its average volume of 269,447. The company has a 50 day simple moving average of $23.85 and a 200-day simple moving average of $21.98. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60.
Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The company had revenue of $5.84 million during the quarter. On average, research analysts anticipate that Cartesian Therapeutics will post 2.67 EPS 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.
Recommended Stories
- Five stocks we like better than Cartesian Therapeutics
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Is Crypto Cool Again? What Stocks You Should Be Watching
- The 3 Best Retail Stocks to Shop for in August
- Why Call Options Volume for These 2 Stocks Spiked Together
- What is Short Interest? How to Use It
- MarketBeat Week in Review – 7/22 – 7/26
Receive News & Ratings for Cartesian Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cartesian Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.