Cartesian Therapeutics’ (RNAC) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a report issued on Friday morning,Benzinga reports. Wedbush currently has a $38.00 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Cartesian Therapeutics in a research report on Monday, March 9th. BTIG Research reiterated a “buy” rating on shares of Cartesian Therapeutics in a research report on Monday, March 9th. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price on the stock in a research report on Monday, March 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

Cartesian Therapeutics Stock Performance

NASDAQ RNAC remained flat at $6.22 during trading hours on Friday. The company’s stock had a trading volume of 205,007 shares, compared to its average volume of 166,566. The firm has a 50-day moving average price of $6.86 and a 200 day moving average price of $7.29. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $15.57. The firm has a market cap of $164.89 million, a P/E ratio of -1.21 and a beta of 0.47.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.62). The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.22 million. On average, equities research analysts expect that Cartesian Therapeutics will post -3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

Large investors have recently added to or reduced their stakes in the company. Miller Financial Services LLC grew its holdings in Cartesian Therapeutics by 17.2% in 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 during the last quarter. Vanguard Group Inc. grew its holdings in Cartesian Therapeutics by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock worth $5,322,000 after acquiring an additional 24,356 shares during the last quarter. Marshall Wace LLP grew its holdings in Cartesian Therapeutics by 110.1% in the 4th quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after acquiring an additional 93,334 shares during the last quarter. Millennium Management LLC grew its holdings in Cartesian Therapeutics by 548.2% in the 4th 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 last quarter. Finally, Renaissance Technologies LLC bought a new stake in Cartesian Therapeutics in the 4th quarter worth $296,000. 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.