Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $42.14.

RNAC has been the subject of a number of recent research reports. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. HC Wainwright decreased their target price on shares of Cartesian Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, March 14th. BTIG Research initiated coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a report on Thursday, March 13th.

Insider Activity at Cartesian Therapeutics

In other news, CTO Metin Kurtoglu sold 2,417 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $40,412.24. Following the completion of the sale, the chief technology officer now directly owns 64,716 shares in the company, valued at $1,082,051.52. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Blaine Davis sold 3,961 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $66,227.92. Following the transaction, the chief financial officer now directly owns 98,839 shares of the company’s stock, valued at approximately $1,652,588.08. The trade was a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,744 shares of company stock worth $247,337 in the last 90 days. Corporate insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Several institutional investors have recently modified their holdings of RNAC. BNP Paribas Financial Markets lifted its stake in Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after buying an additional 909 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in shares of Cartesian Therapeutics during the fourth quarter valued at approximately $63,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cartesian Therapeutics by 22.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after acquiring an additional 847 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Cartesian Therapeutics by 112.7% in the fourth quarter. Wells Fargo & Company MN now owns 4,847 shares of the company’s stock worth $87,000 after acquiring an additional 2,568 shares during the last quarter. Finally, Corebridge Financial Inc. increased its position in shares of Cartesian Therapeutics by 32.6% during the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock worth $92,000 after purchasing an additional 1,258 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Up 1.3 %

Shares of NASDAQ:RNAC opened at $14.54 on Monday. The business has a 50-day moving average price of $18.04 and a 200-day moving average price of $18.85. The stock has a market cap of $376.69 million, a price-to-earnings ratio of -0.28 and a beta of 0.71. Cartesian Therapeutics has a 52-week low of $11.67 and a 52-week high of $41.87.

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.