Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Cartesian Therapeutics, Inc. has received an average rating of "Moderate Buy" from brokerages, with four buy recommendations, one hold, and one sell from six analysts covering the stock.
• The company's latest quarterly earnings report showed an EPS of $0.50, exceeding expectations, despite revenue of only $0.30 million against an anticipated $0.77 million.
• Institutional investors own 86.95% of Cartesian Therapeutics, with significant recent increases in holdings from various funds, including a 104.1% stake boost by Deutsche Bank AG.

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $40.00.

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cartesian Therapeutics in a research note on Saturday, September 27th. Wedbush initiated coverage on Cartesian Therapeutics in a research report on Wednesday, July 9th. They issued an "outperform" rating and a $38.00 price target on the stock.

Institutional Investors Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. AlphaQuest LLC bought a new position in shares of Cartesian Therapeutics during the first quarter valued at about $95,000. Deutsche Bank AG boosted its stake in Cartesian Therapeutics by 104.1% in the 1st quarter. Deutsche Bank AG now owns 7,424 shares of the company's stock worth $98,000 after purchasing an additional 3,786 shares during the period. Virtus Investment Advisers LLC boosted its stake in Cartesian Therapeutics by 12.5% during the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company's stock worth $95,000 after buying an additional 1,023 shares during the period. Miller Financial Services LLC bought a new stake in shares of Cartesian Therapeutics in the second quarter valued at about $121,000. Finally, Bank of America Corp DE increased its holdings in shares of Cartesian Therapeutics by 54.4% during the fourth quarter. Bank of America Corp DE now owns 11,690 shares of the company's stock valued at $209,000 after acquiring an additional 4,120 shares in the last quarter. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Stock Performance

RNAC stock traded down $0.15 during midday trading on Friday, hitting $10.19. 59,596 shares of the stock were exchanged, compared to its average volume of 76,318. The stock's 50-day moving average price is $10.71 and its 200-day moving average price is $11.16. Cartesian Therapeutics has a fifty-two week low of $8.46 and a fifty-two week high of $26.50. The stock has a market cap of $264.94 million, a price-to-earnings ratio of -0.19 and a beta of 0.39.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.76) by $1.26. The company had revenue of $0.30 million during the quarter, compared to analysts' expectations of $0.77 million. 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.

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