Cartesian Therapeutics (NASDAQ:RNAC) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Cartesian Therapeutics (NASDAQ:RNAC) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other brokerages have also commented on RNAC. Weiss Ratings upgraded shares of Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. BTIG Research restated a “buy” rating and set a $44.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, June 10th. Finally, Zacks Research upgraded Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.60.

Cartesian Therapeutics Price Performance

Shares of RNAC stock opened at $8.85 on Friday. Cartesian Therapeutics has a fifty-two week low of $5.60 and a fifty-two week high of $12.25. The stock’s 50-day moving average is $8.58 and its two-hundred day moving average is $7.55. The firm has a market cap of $260.01 million, a P/E ratio of -1.49 and a beta of 0.63.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $1.34. As a group, research analysts expect that Cartesian Therapeutics will post -3.99 EPS for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Cartesian Therapeutics in the fourth quarter worth about $74,000. Sei Investments Co. acquired a new stake in Cartesian Therapeutics in the 1st quarter valued at approximately $78,000. Wells Fargo & Company MN grew its holdings in Cartesian Therapeutics by 49.2% in the 4th 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 increased its position in Cartesian Therapeutics by 17.2% in the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after buying an additional 2,000 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Cartesian Therapeutics in the 4th quarter worth approximately $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.