Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Rating of “Moderate Buy” by Brokerages

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $33.00.

A number of research firms have weighed in on RNAC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Friday, March 27th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 target price on shares of Cartesian Therapeutics in a report on Monday, March 9th. Cantor Fitzgerald raised Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a research note on Monday, March 9th. HC Wainwright lowered their price target on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Cartesian Therapeutics in a research note on Friday, May 1st.

Hedge Funds Weigh In On Cartesian Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Cartesian Therapeutics by 63.7% during the first quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock worth $414,000 after buying an additional 26,200 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Cartesian Therapeutics in the 1st quarter worth approximately $78,000. Millennium Management LLC grew its position in Cartesian Therapeutics by 548.2% during the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after acquiring an additional 139,009 shares during the last quarter. 683 Capital Management LLC grew its position in Cartesian Therapeutics by 21.7% during the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock worth $2,019,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Jain Global LLC acquired a new stake in Cartesian Therapeutics during the 4th quarter valued at $121,000. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Stock Performance

Shares of RNAC stock opened at $7.38 on Friday. Cartesian Therapeutics has a 52-week low of $5.60 and a 52-week high of $15.57. The stock has a market cap of $216.82 million, a price-to-earnings ratio of -1.25 and a beta of 0.58. The firm has a fifty day moving average of $6.97 and a 200-day moving average of $7.21.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.22 million. On average, sell-side analysts predict that Cartesian Therapeutics will post -4.02 earnings per share for the current year.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.