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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has been given an average rating of "Moderate Buy" by the six research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $40.00.

RNAC has been the subject of a number of analyst reports. Wedbush initiated coverage on Cartesian Therapeutics in a research note on Wednesday. They set an "outperform" rating and a $38.00 target price for the company. Needham & Company LLC cut their target price on Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th.

Hedge Funds Weigh In On Cartesian Therapeutics

Hedge funds have recently bought and sold shares of the company. Virtus ETF Advisers LLC purchased a new position in Cartesian Therapeutics in the 4th quarter valued at approximately $63,000. Wells Fargo & Company MN increased its stake in Cartesian Therapeutics by 112.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company's stock valued at $87,000 after purchasing an additional 2,568 shares in the last quarter. Corebridge Financial Inc. increased its stake in Cartesian Therapeutics by 32.6% in the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock valued at $92,000 after purchasing an additional 1,258 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cartesian Therapeutics by 44.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company's stock valued at $104,000 after purchasing an additional 1,789 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in Cartesian Therapeutics in the 4th quarter valued at approximately $119,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Stock Down 1.6%

RNAC traded down $0.22 on Wednesday, hitting $13.32. 54,112 shares of the company traded hands, compared to its average volume of 99,154. The company has a 50 day moving average of $10.46 and a 200-day moving average of $14.17. The stock has a market capitalization of $345.71 million, a PE ratio of -0.25 and a beta of 0.36. Cartesian Therapeutics has a 12-month low of $8.46 and a 12-month high of $26.50.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last posted 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 business had revenue of $1.10 million during the quarter, compared to analysts' expectations of $0.69 million. On average, research analysts anticipate that Cartesian Therapeutics will post 4.56 EPS for the current year.

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.