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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $32.60.

Several equities research analysts have issued reports on RNAC shares. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. HC Wainwright reduced their target price on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 14th. Zacks Research cut shares of Cartesian Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a report on Monday, March 9th.

Hedge Funds Weigh In On Cartesian Therapeutics

Large investors have recently modified their holdings of the stock. Privium Fund Management B.V. bought a new stake in Cartesian Therapeutics in the fourth quarter valued at about $1,244,000. Millennium Management LLC lifted its holdings in Cartesian Therapeutics by 548.2% during the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after buying an additional 139,009 shares during the last quarter. Marshall Wace LLP lifted its stake in Cartesian Therapeutics by 110.1% during the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after purchasing an additional 93,334 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of Cartesian Therapeutics by 21.7% during the fourth quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock worth $2,019,000 after purchasing an additional 50,000 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Cartesian Therapeutics during the fourth quarter worth $316,000. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Performance

Shares of Cartesian Therapeutics stock remained flat at $10.59 during trading hours on Friday. The stock had a trading volume of 178,014 shares, compared to its average volume of 517,707. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $15.57. The stock has a market cap of $311.16 million, a P/E ratio of -1.79 and a beta of 0.59. The stock has a fifty day moving average of $7.96 and a 200 day moving average of $7.34.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly 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 company had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.22 million. As a group, sell-side analysts anticipate that Cartesian Therapeutics will post -4.09 EPS for the current fiscal 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.