Analysts Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Target Price at $43.00

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $43.00.

RNAC has been the subject of a number of analyst reports. Needham & Company LLC cut their price target on Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 8th. HC Wainwright reissued a "buy" rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a report on Wednesday, April 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RNAC. Virtus ETF Advisers LLC purchased a new stake in shares of Cartesian Therapeutics in the 4th quarter worth about $63,000. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 worth $82,000 after buying an additional 847 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in 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 buying an additional 2,568 shares during the period. Corebridge Financial Inc. lifted its holdings in Cartesian Therapeutics by 32.6% in the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock worth $92,000 after buying an additional 1,258 shares during the period. Finally, AlphaQuest LLC bought a new stake in Cartesian Therapeutics during the 1st quarter valued at approximately $95,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC traded down $0.53 on Friday, reaching $9.79. 45,906 shares of the company's stock were exchanged, compared to its average volume of 113,250. The firm has a market cap of $254.05 million, a price-to-earnings ratio of -0.19 and a beta of 0.33. The stock has a fifty day simple moving average of $10.59 and a 200-day simple moving average of $15.33. Cartesian Therapeutics has a 52 week low of $8.46 and a 52 week high of $29.65.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.07). The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $0.69 million. As a group, sell-side analysts predict that Cartesian Therapeutics will post 4.56 EPS for the current year.

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.