Cartesian Therapeutics (NASDAQ:RNAC) Research Coverage Started at SVB Leerink

SVB Leerink assumed coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report released on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $39.00 price objective on the stock.

RNAC has been the topic of a number of other reports. HC Wainwright reissued a buy rating and issued a $60.00 price objective on shares of Cartesian Therapeutics in a research note on Monday, March 18th. Needham & Company LLC began coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They set a buy rating and a $42.00 price objective for the company.

Cartesian Therapeutics Stock Up 0.9 %

RNAC opened at $20.90 on Tuesday. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60. The company has a 50 day simple moving average of $19.26.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($2.10). The business had revenue of $8.27 million during the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. As a group, equities research analysts anticipate that Cartesian Therapeutics will post -3.21 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Timothy A. Springer acquired 21,612 shares of Cartesian Therapeutics stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the purchase, the director now directly owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 22,472 shares of company stock valued at $365,981 in the last ninety days. Corporate insiders own 31.20% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

An institutional investor recently bought a new position in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned approximately 0.98% of Cartesian Therapeutics at the end of the most recent reporting period. 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.