Cartesian Therapeutics (NASDAQ:RNAC) Price Target Lowered to $40.00 at Needham & Company LLC

Cartesian Therapeutics (NASDAQ:RNAC) had its price target lowered by investment analysts at Needham & Company LLC from $42.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

RNAC has been the topic of several other research reports. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Cartesian Therapeutics in a research note on Friday, May 1st. HC Wainwright decreased their target price on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. BTIG Research reissued a “buy” rating on shares of Cartesian Therapeutics in a research note on Monday, March 9th. Cantor Fitzgerald raised Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a research report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Cartesian Therapeutics Trading Down 5.5%

RNAC traded down $0.37 during mid-day trading on Tuesday, hitting $6.38. 174,452 shares of the stock were exchanged, compared to its average volume of 178,423. The firm’s fifty day moving average is $6.81 and its two-hundred day moving average is $7.13. Cartesian Therapeutics has a 1-year low of $5.60 and a 1-year high of $15.57. The company has a market cap of $187.44 million, a PE ratio of -1.08 and a beta of 0.58.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share (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 analysts’ expectations of $0.22 million. As a group, research analysts anticipate that Cartesian Therapeutics will post -4.02 earnings per share for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds have recently bought and sold shares of RNAC. AlphaQuest LLC raised its position in Cartesian Therapeutics by 64.6% in the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after purchasing an additional 2,717 shares in the last quarter. R Squared Ltd acquired a new stake in Cartesian Therapeutics in the 4th quarter valued at about $74,000. Sei Investments Co. acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter worth about $78,000. Wells Fargo & Company MN raised its position in shares of Cartesian Therapeutics by 49.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after acquiring an additional 3,878 shares in the last quarter. Finally, Miller Financial Services LLC raised its position in shares of Cartesian Therapeutics by 17.2% during the 4th quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock worth $98,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.