Cartesian Therapeutics (NASDAQ:RNAC) Given New $49.00 Price Target at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC) had its price target reduced by HC Wainwright from $54.00 to $49.00 in a report issued on Wednesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other research analysts have also issued reports on RNAC. Leerink Partnrs restated an outperform rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. Needham & Company LLC restated a buy rating and set a $42.00 target price on shares of Cartesian Therapeutics in a research report on Monday. Canaccord Genuity Group boosted their target price on Cartesian Therapeutics from $38.00 to $43.00 and gave the company a buy rating in a research report on Wednesday. SVB Leerink started coverage on Cartesian Therapeutics in a research report on Tuesday, April 23rd. They set an outperform rating and a $39.00 target price for the company. Finally, Oppenheimer lowered Cartesian Therapeutics from an outperform rating to a market perform rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $43.83.

Cartesian Therapeutics Trading Up 11.7 %

RNAC opened at $17.62 on Wednesday. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $42.60. The stock has a 50-day moving average of $26.00 and a 200 day moving average 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 company had revenue of $5.84 million during the quarter. On average, analysts expect that Cartesian Therapeutics will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Cartesian Therapeutics in the first quarter worth approximately $31,000. Hall Laurie J Trustee bought a new position in Cartesian Therapeutics in the first quarter worth approximately $34,000. American International Group Inc. bought a new position in Cartesian Therapeutics in the first quarter worth approximately $37,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the first quarter worth approximately $38,000. Finally, Delphi Financial Group Inc. bought a new position in Cartesian Therapeutics in the first quarter worth approximately $430,000. Institutional investors own 86.95% of the company’s stock.

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.