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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.00.

A number of equities research analysts have commented on RNAC shares. Needham & Company LLC decreased their price objective on Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a research 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.

Cartesian Therapeutics Stock Performance

Shares of RNAC opened at $10.42 on Friday. The stock's fifty day moving average is $10.60 and its 200-day moving average is $15.47. The firm has a market capitalization of $270.44 million, a price-to-earnings ratio of -0.20 and a beta of 0.33. Cartesian Therapeutics has a one year low of $8.46 and a one year high of $29.65.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.07). The company had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.69 million. Analysts forecast that Cartesian Therapeutics will post 4.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its position in shares of Cartesian Therapeutics by 27.5% during the first quarter. Rhumbline Advisers now owns 13,006 shares of the company's stock worth $171,000 after acquiring an additional 2,805 shares during the last quarter. 683 Capital Management LLC boosted its position in Cartesian Therapeutics by 20.0% during the first quarter. 683 Capital Management LLC now owns 150,000 shares of the company's stock valued at $1,977,000 after purchasing an additional 25,000 shares during the last quarter. MPM Bioimpact LLC raised its stake in Cartesian Therapeutics by 9.7% in the first quarter. MPM Bioimpact LLC now owns 790,779 shares of the company's stock valued at $10,422,000 after buying an additional 69,640 shares during the period. AlphaQuest LLC bought a new stake in Cartesian Therapeutics in the first quarter valued at approximately $95,000. Finally, Erste Asset Management GmbH increased its stake in shares of Cartesian Therapeutics by 49.8% during the first quarter. Erste Asset Management GmbH now owns 260,011 shares of the company's stock worth $3,432,000 after purchasing an additional 86,445 shares during the period. Institutional investors and hedge funds 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.

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