Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Average Rating of “Moderate Buy” from Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given an average rating of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.50.

A number of research firms have weighed in on RNAC. HC Wainwright decreased their price target on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. BTIG Research boosted their target price on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Wall Street Zen cut shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Needham & Company LLC boosted their price objective on shares of Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, January 9th.

Insider Transactions at Cartesian Therapeutics

In other news, CFO Blaine Davis sold 10,591 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total value of $72,230.62. Following the completion of the sale, the chief financial officer directly owned 121,220 shares of the company’s stock, valued at $826,720.40. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 60.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Privium Fund Management B.V. acquired a new stake in shares of Cartesian Therapeutics during the 4th quarter worth about $1,244,000. Millennium Management LLC boosted its holdings in shares of Cartesian Therapeutics by 548.2% during the fourth quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after acquiring an additional 139,009 shares during the period. Marshall Wace LLP increased its stake in shares of 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 period. 683 Capital Management LLC lifted its holdings in Cartesian Therapeutics by 46.0% during the 2nd quarter. 683 Capital Management LLC now owns 219,000 shares of the company’s stock worth $2,275,000 after purchasing an additional 69,000 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Cartesian Therapeutics by 106.9% in the 3rd quarter. GSA Capital Partners LLP now owns 86,095 shares of the company’s stock valued at $880,000 after purchasing an additional 44,493 shares during the period. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Stock Performance

NASDAQ:RNAC opened at $7.45 on Monday. The stock has a 50-day simple moving average of $7.09 and a 200 day simple moving average of $8.32. Cartesian Therapeutics has a 52-week low of $5.98 and a 52-week high of $18.97. The company has a market cap of $193.63 million, a PE ratio of -4.68 and a beta of 0.45.

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.