Cartesian Therapeutics (NASDAQ:RNAC) Given New $43.00 Price Target at Canaccord Genuity Group

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective increased by Canaccord Genuity Group from $38.00 to $43.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. SVB Leerink assumed coverage on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. They issued an outperform rating and a $39.00 target price on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a report on Monday. Mizuho started coverage on Cartesian Therapeutics in a research note on Friday, May 24th. They set a buy rating and a $40.00 target price for the company. HC Wainwright restated a buy rating and issued a $54.00 price target on shares of Cartesian Therapeutics in a research note on Monday, June 17th. Finally, Leerink Partnrs reiterated an outperform rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $43.83.

Cartesian Therapeutics Stock Up 11.7 %

RNAC opened at $17.62 on Wednesday. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60. The business has a 50 day moving average price of $26.00 and a two-hundred day moving average price of $22.41.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.97) EPS for the quarter, missing the consensus estimate of ($0.81) by ($1.16). The firm had revenue of $5.84 million during the quarter. As a group, equities analysts expect that Cartesian Therapeutics will post 2.28 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Cartesian Therapeutics during the 1st quarter worth $31,000. Hall Laurie J Trustee purchased a new position in Cartesian Therapeutics during the 1st quarter valued at about $34,000. American International Group Inc. acquired a new position in Cartesian Therapeutics during the first quarter worth about $37,000. BNP Paribas Financial Markets purchased a new stake in shares of Cartesian Therapeutics in the first quarter valued at about $38,000. Finally, Delphi Financial Group Inc. acquired a new stake in shares of Cartesian Therapeutics in the first quarter valued at approximately $430,000. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

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.