Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $38.00.

RNAC has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Wednesday. HC Wainwright decreased their price objective on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday. Wall Street Zen lowered Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, BTIG Research lifted their price target on Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, November 14th.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC traded up $0.09 during midday trading on Friday, hitting $7.24. The company’s stock had a trading volume of 127,386 shares, compared to its average volume of 87,210. Cartesian Therapeutics has a fifty-two week low of $5.98 and a fifty-two week high of $26.50. The firm has a market cap of $188.27 million, a P/E ratio of -4.64 and a beta of 0.44. The firm’s 50 day moving average is $8.89 and its 200-day moving average is $10.21.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.57). The firm had revenue of $0.45 million for the quarter, compared to analyst estimates of $0.18 million. As a group, analysts forecast that Cartesian Therapeutics will post 4.56 EPS for the current year.

Hedge Funds Weigh In On Cartesian Therapeutics

Large investors have recently bought and sold shares of the business. AlphaQuest LLC grew its holdings in Cartesian Therapeutics by 64.6% in the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares during the period. Virtus Investment Advisers LLC raised its stake in shares of Cartesian Therapeutics by 12.5% during the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after buying an additional 1,023 shares during the period. Deutsche Bank AG lifted its position in shares of Cartesian Therapeutics by 104.1% during the 1st quarter. Deutsche Bank AG now owns 7,424 shares of the company’s stock valued at $98,000 after buying an additional 3,786 shares in the last quarter. Miller Financial Services LLC purchased a new position in shares of Cartesian Therapeutics during the 2nd quarter valued at approximately $121,000. Finally, Bank of America Corp DE grew its stake 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 acquiring an additional 7,952 shares during the period. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.