Cartesian Therapeutics (NASDAQ:RNAC) Shares Down 1.1% – Here’s Why

Cartesian Therapeutics, Inc. (NASDAQ:RNAC)’s share price dropped 1.1% on Monday . The stock traded as low as $7.78 and last traded at $7.79. Approximately 79,053 shares changed hands during trading, a decline of 51% from the average session volume of 161,028 shares. The stock had previously closed at $7.88.

Wall Street Analyst Weigh In

RNAC has been the subject of several recent research reports. HC Wainwright dropped their price target on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a research note on Wednesday, June 10th. Wall Street Zen raised Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. BTIG Research restated a “buy” rating and set a $44.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.60.

Cartesian Therapeutics Trading Down 3.0%

The stock has a market capitalization of $218.00 million, a P/E ratio of -1.26 and a beta of 0.59. The firm’s fifty day moving average is $8.38 and its 200-day moving average is $7.52.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data 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 business had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.22 million. Equities research analysts expect that Cartesian Therapeutics, Inc. will post -4.09 EPS for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new position in Cartesian Therapeutics in the fourth quarter worth $74,000. Sei Investments Co. acquired a new stake in shares of Cartesian Therapeutics in the first quarter valued at $78,000. Wells Fargo & Company MN raised its holdings in shares of Cartesian Therapeutics by 49.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock valued at $85,000 after buying an additional 3,878 shares during the last quarter. Miller Financial Services LLC raised its holdings in shares of Cartesian Therapeutics by 17.2% in the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after buying an additional 2,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Cartesian Therapeutics during the 4th quarter worth about $112,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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.