Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $42.86 Average Target Price from Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $42.86.

Several research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $45.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, January 28th. 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 for the company. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research report on Monday, January 27th.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC opened at $18.40 on Thursday. The firm’s 50-day moving average is $18.62 and its two-hundred day moving average is $18.62. The firm has a market capitalization of $467.64 million, a PE ratio of -0.35 and a beta of 0.71. Cartesian Therapeutics has a 1 year low of $11.67 and a 1 year high of $41.87.

Insider Activity at Cartesian Therapeutics

In related news, CFO Blaine Davis sold 4,028 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $67,791.24. Following the sale, the chief financial officer now owns 94,811 shares of the company’s stock, valued at $1,595,669.13. This trade represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Metin Kurtoglu sold 2,458 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $41,368.14. Following the completion of the sale, the chief technology officer now directly owns 62,258 shares in the company, valued at approximately $1,047,802.14. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,744 shares of company stock valued at $247,337 over the last quarter. Insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RNAC. BNP Paribas Financial Markets boosted its stake in Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after buying an additional 909 shares during the last quarter. Virtus ETF Advisers LLC acquired a new stake in Cartesian Therapeutics in the 4th quarter worth about $63,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cartesian Therapeutics by 22.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock worth $82,000 after buying an additional 847 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Cartesian Therapeutics by 112.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company’s stock worth $87,000 after buying an additional 2,568 shares during the last quarter. Finally, Corebridge Financial Inc. boosted its stake in Cartesian Therapeutics by 32.6% in the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock worth $92,000 after buying an additional 1,258 shares during the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

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.