Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $42.86

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $42.86.

A number of research firms have recently commented on RNAC. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $45.00 target price (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. BTIG Research started coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC opened at $19.35 on Friday. The stock has a market capitalization of $491.78 million, a P/E ratio of -0.37 and a beta of 0.60. The business has a 50-day moving average of $20.05 and a two-hundred day moving average of $18.85. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $41.87.

Insider Activity at Cartesian Therapeutics

In other Cartesian Therapeutics news, Director Timothy A. Springer purchased 5,514 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the purchase, the director now directly owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. This trade represents a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Metin Kurtoglu sold 32,789 shares of Cartesian Therapeutics stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $16.67, for a total value of $546,592.63. Following the sale, the chief technology officer now directly owns 51,033 shares in the company, valued at $850,720.11. The trade was a 39.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,089 shares of company stock worth $2,169,555. Company insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Several institutional investors have recently bought and sold shares of RNAC. Barclays PLC raised its stake in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after acquiring an additional 7,849 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cartesian Therapeutics by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock worth $2,188,000 after purchasing an additional 2,737 shares during the last quarter. State Street Corp increased its position in shares of Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after purchasing an additional 3,830 shares in the last quarter. Great Point Partners LLC bought a new position in Cartesian Therapeutics during the 3rd quarter valued at about $3,224,000. Finally, BNP Paribas Financial Markets boosted its position in Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after buying an additional 909 shares in the last quarter. Institutional investors and hedge funds 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.