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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has earned an average rating of "Moderate Buy" from the eight analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

RNAC has been the subject of several recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. Needham & Company LLC lowered their price objective on shares of 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 Price Performance

Cartesian Therapeutics stock opened at $10.37 on Tuesday. Cartesian Therapeutics has a 1-year low of $8.85 and a 1-year high of $41.87. The company has a market cap of $269.14 million, a PE ratio of -0.20 and a beta of 0.51. The stock's 50 day moving average price is $12.17 and its 200 day moving average price is $16.57.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.07). The business had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.69 million. On average, equities research analysts anticipate that Cartesian Therapeutics will post 4.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in Cartesian Therapeutics by 40.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,803 shares of the company's stock worth $480,000 after buying an additional 7,755 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cartesian Therapeutics by 63.0% in the 4th quarter. Geode Capital Management LLC now owns 221,257 shares of the company's stock valued at $3,963,000 after purchasing an additional 85,557 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Cartesian Therapeutics in the 4th quarter valued at $119,000. Renaissance Technologies LLC acquired a new position in shares of Cartesian Therapeutics in the 4th quarter valued at $247,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cartesian Therapeutics by 28.5% in the 4th quarter. Bank of New York Mellon Corp now owns 19,407 shares of the company's stock valued at $348,000 after purchasing an additional 4,305 shares during the period. 86.95% of the stock is currently owned by institutional investors.

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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