Canaccord Genuity Group Raises Cartesian Therapeutics (NASDAQ:RNAC) Price Target to $43.00

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective hoisted by Canaccord Genuity Group from $38.00 to $43.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 141.57% from the company’s current price.

RNAC has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $42.00 target price on shares of Cartesian Therapeutics in a report on Monday. Mizuho assumed coverage on shares of Cartesian Therapeutics in a research report on Friday, May 24th. They set a “buy” rating and a $40.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. SVB Leerink initiated coverage on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $54.00 target price on shares of Cartesian Therapeutics in a research note on Monday, June 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $44.67.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC traded up $2.03 during midday trading on Wednesday, reaching $17.80. The company’s stock had a trading volume of 125,094 shares, compared to its average volume of 77,906. The business has a 50 day moving average price of $26.06 and a 200 day moving average price of $22.45. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The business had revenue of $5.84 million during the quarter. Equities research analysts forecast that Cartesian Therapeutics will post 2.28 EPS for the current year.

Institutional Trading of Cartesian Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Hall Laurie J Trustee acquired a new position in Cartesian Therapeutics in the first quarter valued at approximately $34,000. BNP Paribas Financial Markets bought a new stake in Cartesian Therapeutics in the 1st quarter valued at about $38,000. Delphi Financial Group Inc. acquired a new position in shares of Cartesian Therapeutics during the first quarter worth approximately $430,000. SG Americas Securities LLC bought a new position in Cartesian Therapeutics in the 1st quarter valued at about $31,000. Finally, Vanguard Group Inc. bought a new stake in shares of Cartesian Therapeutics during the 1st quarter worth about $4,105,000. Institutional investors own 86.95% of the company’s stock.

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.