Cartesian Therapeutics (NASDAQ:RNAC) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note published on Friday, Benzinga reports. They currently have a $45.00 price target on the stock.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC lowered their price objective on shares of Cartesian Therapeutics from $42.00 to $41.00 and set a buy rating on the stock in a research report on Friday, August 9th. Canaccord Genuity Group boosted their price target on shares of Cartesian Therapeutics from $38.00 to $43.00 and gave the stock a buy rating in a research note on Wednesday, July 3rd. TD Cowen assumed coverage on shares of Cartesian Therapeutics in a research report on Tuesday, August 6th. They issued a buy rating for the company. Oppenheimer lowered Cartesian Therapeutics from an outperform rating to a market perform rating in a report on Tuesday, July 2nd. Finally, Mizuho initiated 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $43.00.

Cartesian Therapeutics Trading Down 4.4 %

Shares of RNAC opened at $16.01 on Friday. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $42.60. The firm has a 50-day simple moving average of $15.19 and a 200-day simple moving average of $19.93.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $1.35. The company had revenue of $33.45 million for the quarter, compared to analyst estimates of $6.00 million. Equities research analysts predict that Cartesian Therapeutics will post 3.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Timothy A. Springer acquired 8,016 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $12.72 per share, with a total value of $101,963.52. Following the purchase, the director now directly owns 11,509 shares of the company’s stock, valued at approximately $146,394.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 61.10% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Cartesian Therapeutics in the first quarter valued at about $31,000. American International Group Inc. acquired a new stake in Cartesian Therapeutics during the 1st quarter valued at $37,000. BNP Paribas Financial Markets purchased a new position in Cartesian Therapeutics during the first quarter worth $38,000. Point72 DIFC Ltd acquired a new position in shares of Cartesian Therapeutics in the second quarter worth $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cartesian Therapeutics in the second quarter valued at $49,000. 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.