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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $42.67.

Several research analysts have weighed in on RNAC shares. HC Wainwright reaffirmed a "buy" rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Needham & Company LLC restated a "buy" rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a report on Wednesday, April 9th.

Cartesian Therapeutics Stock Up 0.8 %

Shares of RNAC traded up $0.10 during midday trading on Friday, reaching $12.00. The company had a trading volume of 43,657 shares, compared to its average volume of 115,594. The firm has a 50 day simple moving average of $14.08 and a 200-day simple moving average of $17.61. The stock has a market cap of $310.88 million, a PE ratio of -0.23 and a beta of 0.55. Cartesian Therapeutics has a 1-year low of $8.85 and a 1-year high of $41.87.

Hedge Funds Weigh In On Cartesian Therapeutics

Several large investors have recently made changes to their positions in RNAC. MPM Bioimpact LLC lifted its holdings in shares of Cartesian Therapeutics by 14.6% in the 4th quarter. MPM Bioimpact LLC now owns 721,139 shares of the company's stock worth $12,916,000 after acquiring an additional 91,716 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cartesian Therapeutics by 63.0% during the 4th quarter. Geode Capital Management LLC now owns 221,257 shares of the company's stock worth $3,963,000 after buying an additional 85,557 shares in the last quarter. 683 Capital Management LLC lifted its holdings in Cartesian Therapeutics by 65.7% during the 4th quarter. 683 Capital Management LLC now owns 125,000 shares of the company's stock worth $2,239,000 after buying an additional 49,569 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Cartesian Therapeutics by 197.8% during the 4th quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company's stock worth $1,291,000 after buying an additional 47,889 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Cartesian Therapeutics by 50.6% during the 4th quarter. Northern Trust Corp now owns 95,030 shares of the company's stock worth $1,702,000 after buying an additional 31,915 shares in the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.