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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) have earned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $43.00.

A number of research firms recently weighed in on RNAC. HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of Cartesian Therapeutics in a report on Wednesday, April 9th. 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 report on Thursday, May 8th.

Cartesian Therapeutics Trading Up 0.1%

Shares of NASDAQ:RNAC traded up $0.01 during trading on Tuesday, hitting $9.16. 53,651 shares of the company's stock traded hands, compared to its average volume of 115,218. Cartesian Therapeutics has a 52 week low of $8.85 and a 52 week high of $41.87. The company has a market cap of $237.74 million, a price-to-earnings ratio of -0.17 and a beta of 0.51. The company has a 50-day moving average price of $11.69 and a 200-day moving average price of $16.28.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last announced its earnings results 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 company had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.69 million. On average, analysts predict that Cartesian Therapeutics will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNAC. MPM Bioimpact LLC boosted its holdings in Cartesian Therapeutics by 14.6% in the fourth quarter. MPM Bioimpact LLC now owns 721,139 shares of the company's stock worth $12,916,000 after acquiring an additional 91,716 shares in the last quarter. Erste Asset Management GmbH boosted its holdings in Cartesian Therapeutics by 49.8% in the first quarter. Erste Asset Management GmbH now owns 260,011 shares of the company's stock worth $3,432,000 after acquiring an additional 86,445 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cartesian Therapeutics by 63.0% in the fourth quarter. Geode Capital Management LLC now owns 221,257 shares of the company's stock worth $3,963,000 after acquiring an additional 85,557 shares in the last quarter. 683 Capital Management LLC boosted its holdings in Cartesian Therapeutics by 65.7% in the fourth quarter. 683 Capital Management LLC now owns 125,000 shares of the company's stock worth $2,239,000 after acquiring an additional 49,569 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Cartesian Therapeutics by 197.8% in the fourth quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company's stock worth $1,291,000 after acquiring an additional 47,889 shares in the last quarter. Institutional investors 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.