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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $40.00.

A number of analysts have recently weighed in on RNAC shares. Needham & Company LLC dropped their target price on shares of Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wedbush started coverage on shares of Cartesian Therapeutics in a report on Wednesday. They set an "outperform" rating and a $38.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $40.00 target price on shares of Cartesian Therapeutics in a report on Wednesday, April 9th.

Institutional Trading of Cartesian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in Cartesian Therapeutics by 10.0% in the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company's stock worth $183,000 after buying an additional 927 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. Bank of New York Mellon Corp lifted its holdings in Cartesian Therapeutics by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 20,937 shares of the company's stock worth $276,000 after buying an additional 1,530 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cartesian Therapeutics by 44.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company's stock worth $104,000 after buying an additional 1,789 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cartesian Therapeutics by 9.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,303 shares of the company's stock worth $386,000 after buying an additional 2,500 shares during the period. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

Cartesian Therapeutics Stock Performance

RNAC traded up $2.47 during trading on Wednesday, reaching $13.77. The stock had a trading volume of 353,176 shares, compared to its average volume of 101,105. The stock has a market cap of $357.39 million, a PE ratio of -0.26 and a beta of 0.36. Cartesian Therapeutics has a one year low of $8.46 and a one year high of $26.50. The business has a 50-day moving average of $10.38 and a 200-day moving average of $14.28.

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