Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Price Target at $43.00

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $43.00.

RNAC has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on Cartesian Therapeutics in a research note on Tuesday, August 6th. They set a “buy” rating on the stock. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Wednesday, October 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $45.00 price target on shares of Cartesian Therapeutics in a research report on Friday, September 13th.

Insider Activity at Cartesian Therapeutics

In other news, Director Timothy A. Springer bought 80,301 shares of the company’s stock in a transaction on Friday, October 4th. The shares were acquired at an average cost of $22.58 per share, with a total value of $1,813,196.58. Following the completion of the transaction, the director now owns 8,023,766 shares of the company’s stock, valued at approximately $181,176,636.28. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Timothy A. Springer purchased 8,016 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $12.72 per share, for a total transaction of $101,963.52. Following the acquisition, the director now directly owns 11,509 shares of the company’s stock, valued at $146,394.48. This represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy A. Springer purchased 80,301 shares of the business’s stock in a transaction on Friday, October 4th. The shares were purchased at an average price of $22.58 per share, with a total value of $1,813,196.58. Following the acquisition, the director now directly owns 8,023,766 shares in the company, valued at $181,176,636.28. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 93,831 shares of company stock valued at $2,010,993 over the last ninety days. Insiders own 57.90% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RNAC. BNP Paribas Financial Markets purchased a new stake in shares of Cartesian Therapeutics during the 1st quarter worth $38,000. Delphi Financial Group Inc. acquired a new stake in Cartesian Therapeutics during the first quarter worth about $430,000. SG Americas Securities LLC acquired a new stake in Cartesian Therapeutics during the first quarter worth about $31,000. Vanguard Group Inc. acquired a new stake in Cartesian Therapeutics in the first quarter valued at approximately $4,105,000. Finally, American International Group Inc. acquired a new stake in Cartesian Therapeutics in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Down 0.4 %

Shares of RNAC stock opened at $20.78 on Friday. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60. The firm has a 50 day moving average of $18.71 and a 200-day moving average of $20.36.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $1.35. The business had revenue of $33.45 million during the quarter, compared to analyst estimates of $6.00 million. Research analysts expect that Cartesian Therapeutics will post 3.99 EPS for the current year.

About Cartesian Therapeutics

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.