Cartesian Therapeutics (NASDAQ:RNAC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report report published on Monday, Benzinga reports. Needham & Company LLC currently has a $42.00 price target on the stock.

RNAC has been the subject of a number of other research reports. SVB Leerink began coverage on Cartesian Therapeutics in a research note on Tuesday, April 23rd. They issued an outperform rating and a $39.00 price target for the company. HC Wainwright reiterated a buy rating and issued a $54.00 price target on shares of Cartesian Therapeutics in a research note on Monday, June 17th. Mizuho began coverage on Cartesian Therapeutics in a research note on Friday, May 24th. They issued a buy rating and a $40.00 price target for the company. Leerink Partnrs reiterated an outperform rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. Finally, Oppenheimer reiterated an outperform rating and issued a $50.00 price target on shares of Cartesian Therapeutics in a research note on Monday, June 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cartesian Therapeutics presently has an average rating of Moderate Buy and an average target price of $43.83.

Cartesian Therapeutics Stock Up 11.7 %

Shares of Cartesian Therapeutics stock opened at $17.62 on Monday. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $42.60. The stock’s fifty day moving average is $25.93 and its 200 day moving average is $22.38.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Artal Group S.A. purchased a new position in shares of Cartesian Therapeutics during the first quarter valued at about $5,939,000. American International Group Inc. purchased a new position in shares of Cartesian Therapeutics during the first quarter valued at about $37,000. Vanguard Group Inc. purchased a new position in shares of Cartesian Therapeutics during the first quarter valued at about $4,105,000. SG Americas Securities LLC purchased a new position in shares of Cartesian Therapeutics during the first quarter valued at about $31,000. Finally, Delphi Financial Group Inc. purchased a new position in Cartesian Therapeutics in the first quarter worth about $430,000. Hedge funds and other institutional investors 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.