Cartesian Therapeutics’ (RNAC) Outperform Rating Reaffirmed at Wedbush

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report released on Tuesday,Benzinga reports. They presently have a $38.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 313.94% from the stock’s current price.

A number of other brokerages have also recently weighed in on RNAC. Wall Street Zen upgraded shares of Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. BTIG Research restated a “buy” rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Zacks Research upgraded shares of Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.60.

Cartesian Therapeutics Trading Up 3.8%

NASDAQ RNAC opened at $9.18 on Tuesday. The stock has a market cap of $277.74 million, a PE ratio of -1.55 and a beta of 0.63. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $11.80. The stock has a fifty day simple moving average of $8.88 and a 200-day simple moving average of $7.60.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data 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. Research analysts predict that Cartesian Therapeutics will post -3.11 EPS for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Cartesian Therapeutics during the 4th quarter worth about $74,000. Sei Investments Co. purchased a new stake in Cartesian Therapeutics during the first quarter worth approximately $78,000. Wells Fargo & Company MN boosted its holdings in 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 purchasing an additional 3,878 shares in the last quarter. Miller Financial Services LLC boosted its holdings in 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 purchasing an additional 2,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Cartesian Therapeutics in the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

About Cartesian Therapeutics

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.