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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $42.86.

RNAC has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research report on Monday, January 27th. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, January 28th. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Finally, BTIG Research started coverage on shares of Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price for the company.

Cartesian Therapeutics Trading Down 3.2 %

NASDAQ:RNAC opened at $17.48 on Thursday. Cartesian Therapeutics has a 12 month low of $11.67 and a 12 month high of $41.87. The company has a market cap of $444.25 million, a PE ratio of -0.33 and a beta of 0.71. The company has a 50 day simple moving average of $18.60 and a two-hundred day simple moving average of $18.70.

Insider Activity

In other news, CTO Metin Kurtoglu sold 2,417 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $40,412.24. Following the completion of the sale, the chief technology officer now owns 64,716 shares of the company’s stock, valued at $1,082,051.52. The trade was a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Blaine Davis sold 4,028 shares of Cartesian Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $67,791.24. Following the transaction, the chief financial officer now owns 94,811 shares in the company, valued at approximately $1,595,669.13. This trade represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,744 shares of company stock valued at $247,337 in the last 90 days. Company insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MPM Bioimpact LLC lifted its stake in shares of Cartesian Therapeutics by 14.6% during the 4th quarter. MPM Bioimpact LLC now owns 721,139 shares of the company’s stock valued at $12,916,000 after buying an additional 91,716 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Cartesian Therapeutics by 197.8% during the 4th quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company’s stock valued at $1,291,000 after buying an additional 47,889 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cartesian Therapeutics by 44.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock valued at $104,000 after buying an additional 1,789 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Cartesian Therapeutics by 54.4% during the 4th quarter. Bank of America Corp DE now owns 11,690 shares of the company’s stock valued at $209,000 after buying an additional 4,120 shares in the last quarter. Finally, 683 Capital Management LLC lifted its stake in shares of Cartesian Therapeutics by 65.7% during the 4th quarter. 683 Capital Management LLC now owns 125,000 shares of the company’s stock valued at $2,239,000 after buying an additional 49,569 shares in the last quarter. Hedge funds and other institutional investors 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.