Cartesian Therapeutics (NASDAQ:RNAC) Raised to “Hold” at Zacks Research

Cartesian Therapeutics (NASDAQ:RNAC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

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

Cartesian Therapeutics Stock Up 4.2%

NASDAQ:RNAC opened at $7.73 on Wednesday. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $13.21. The stock’s 50-day simple moving average is $8.42 and its 200 day simple moving average is $7.51. The firm has a market capitalization of $227.11 million, a PE ratio of -1.31 and a beta of 0.59.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, April 30th. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The business had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.22 million. On average, analysts anticipate that Cartesian Therapeutics will post -4.09 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

Several institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in Cartesian Therapeutics by 27.5% during 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 during the last quarter. Marshall Wace LLP lifted its holdings in shares of Cartesian Therapeutics by 114.0% in the 2nd quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock worth $859,000 after purchasing an additional 44,025 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 valued at $145,000 after purchasing an additional 7,952 shares during the period. Vanguard Group Inc. grew its position in Cartesian Therapeutics by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock valued at $5,322,000 after purchasing an additional 24,356 shares during the period. Finally, Bridgeway Capital Management LLC bought a new stake in Cartesian Therapeutics during the 3rd quarter valued at $256,000. Institutional investors 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.