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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given a consensus rating of “Buy” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $45.00.

A number of analysts have recently commented on RNAC shares. Needham & Company LLC reissued a “buy” rating and set a $42.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, May 8th. Leerink Partnrs restated an “outperform” rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. HC Wainwright restated a “buy” rating and set a $54.00 price target on shares of Cartesian Therapeutics in a research report on Monday, June 17th. 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 price target on the stock. Finally, Mizuho started coverage on shares of Cartesian Therapeutics in a research report on Friday, May 24th. They set a “buy” rating and a $40.00 price target on the stock.

Hedge Funds Weigh In On Cartesian Therapeutics

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $31,000. Hall Laurie J Trustee purchased a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $34,000. American International Group Inc. purchased a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $37,000. BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $38,000. Finally, Delphi Financial Group Inc. purchased a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $430,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Price Performance

RNAC stock opened at $27.01 on Friday. The firm has a 50-day simple moving average of $26.04 and a 200-day simple moving average of $22.46. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its earnings results on Wednesday, May 8th. The company reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The company had revenue of $5.84 million for the quarter. Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 983.93%. On average, analysts predict that Cartesian Therapeutics will post 2.28 EPS for the current fiscal year.

About Cartesian Therapeutics

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.