Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $42.86.

Several research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Monday. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Finally, BTIG Research initiated coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock.

Insider Buying and Selling

In other news, CTO Metin Kurtoglu sold 25,900 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $16.44, for a total transaction of $425,796.00. Following the completion of the transaction, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at approximately $838,982.52. This represents a 33.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blaine Davis sold 3,961 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $66,227.92. Following the sale, the chief financial officer now owns 98,839 shares in the company, valued at $1,652,588.08. The trade was a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 142,833 shares of company stock worth $2,416,892 over the last ninety days. 57.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake 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 during the last quarter. Point72 DIFC Ltd bought a new stake in Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cartesian Therapeutics during the 2nd quarter valued at about $49,000. Barclays PLC boosted its stake in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after purchasing an additional 7,849 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Cartesian Therapeutics in the 2nd quarter worth about $351,000. 86.95% of the stock is currently owned by institutional investors.

Cartesian Therapeutics Price Performance

Shares of RNAC stock opened at $18.02 on Wednesday. The company’s fifty day moving average price is $18.97 and its two-hundred day moving average price is $17.87. The firm has a market capitalization of $457.98 million, a P/E ratio of -0.34 and a beta of 0.56. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $41.87.

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.