Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Rating of “Hold” by Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $32.60.

RNAC has been the topic of several research reports. Wall Street Zen upgraded shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Weiss Ratings raised Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. BTIG Research reaffirmed a “buy” rating and set a $44.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Finally, Zacks Research downgraded Cartesian Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th.

Institutional Trading of Cartesian Therapeutics

Several institutional investors have recently made changes to their positions in RNAC. Privium Fund Management B.V. bought a new position in shares of Cartesian Therapeutics during the fourth quarter valued at about $1,244,000. R Squared Ltd purchased a new position in Cartesian Therapeutics during the fourth quarter worth about $74,000. Rhumbline Advisers grew its position in Cartesian Therapeutics by 27.5% in the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after purchasing an additional 2,805 shares in the last quarter. Bank of America Corp DE grew its position in Cartesian Therapeutics by 133.0% in the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock worth $145,000 after purchasing an additional 7,952 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Cartesian Therapeutics in the 4th quarter valued at about $131,000. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC traded down $0.01 during trading on Thursday, reaching $7.41. 6,948 shares of the stock were exchanged, compared to its average volume of 221,090. Cartesian Therapeutics has a 1-year low of $5.60 and a 1-year high of $13.21. The stock has a fifty day moving average of $8.39 and a two-hundred day moving average of $7.52. The firm has a market cap of $217.82 million, a price-to-earnings ratio of -1.25 and a beta of 0.59.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.22 million. Sell-side analysts forecast that Cartesian Therapeutics will post -4.09 EPS 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.