Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Five of seven analysts rate Cartesian Therapeutics a buy, while one recommends holding and one recommends selling. The average 12-month price target is $32.60, with individual targets ranging from $25 to $44.
• Shares recently traded at $9.96, compared with a 12-month range of $5.60 to $11.39. The company reported quarterly EPS of $0.46, exceeding the consensus estimate of a $0.88 loss, though analysts expect a full-year loss of $3.11 per share.
• Institutional ownership is high at 86.95%: Several investment firms recently initiated or increased positions in the clinical-stage biotechnology company, which develops mRNA-based therapeutics using proprietary RNA delivery and lipid nanoparticle platforms.

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $32.60.

A number of brokerages have commented on RNAC. BTIG Research reissued a "buy" rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. HC Wainwright dropped their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC reissued a "buy" rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Zacks Research raised Cartesian Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Cartesian Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th.

Cartesian Therapeutics Stock Performance

Shares of Cartesian Therapeutics stock traded down $0.09 during midday trading on Monday, hitting $9.96. 25,442 shares of the company traded hands, compared to its average volume of 212,323. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $11.39. The stock has a market cap of $301.19 million, a price-to-earnings ratio of -1.67 and a beta of 0.63. The firm's fifty day moving average price is $9.04 and its 200-day moving average price is $7.69.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $1.34. Equities research analysts forecast that Cartesian Therapeutics will post -3.11 earnings per share for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

Large investors have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Cartesian Therapeutics in the 4th quarter valued at about $74,000. Sei Investments Co. bought a new position in Cartesian Therapeutics during the first quarter worth about $78,000. Wells Fargo & Company MN increased its stake in shares of Cartesian Therapeutics by 49.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company's stock worth $85,000 after purchasing an additional 3,878 shares in the last quarter. Miller Financial Services LLC increased its stake in shares of Cartesian Therapeutics by 17.2% in the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company's stock worth $98,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Cartesian Therapeutics in the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Company Profile

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.

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