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

Key Points

• Analysts give Cartesian Therapeutics a consensus rating of Moderate Buy from six brokerages (five buy, one sell), with an average 1‑year target of $34 and individual targets ranging roughly from $16 to $42.
• Institutional investors own 86.95% of the stock, with recent buying activity including Millennium Management increasing its stake by 548% to 164,366 shares and 683 Capital adding to its position.
• Financial snapshot: the stock trades around $6.94 with a market cap of $183.98M, the company reported a quarterly EPS loss of ($1.38) that missed estimates, and analysts project roughly -3.22 EPS for the current year.

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has received an average rating of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $34.00.

A number of research firms have weighed in on RNAC. Wedbush reissued an "outperform" rating and set a $38.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, March 10th. Cantor Fitzgerald raised shares of Cartesian Therapeutics from a "neutral" rating to an "overweight" rating and set a $16.00 target price for the company in a research report on Monday, March 9th. Needham & Company LLC restated a "buy" rating and set a $42.00 price objective on shares of Cartesian Therapeutics in a report on Monday, March 9th. Weiss Ratings restated a "sell (e+)" rating on shares of Cartesian Therapeutics in a report on Friday, March 27th. Finally, BTIG Research restated a "buy" rating on shares of Cartesian Therapeutics in a report on Monday, March 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in shares of Cartesian Therapeutics by 548.2% during the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company's stock worth $1,185,000 after purchasing an additional 139,009 shares during the period. 683 Capital Management LLC increased its holdings in shares of Cartesian Therapeutics by 21.7% during the 4th quarter. 683 Capital Management LLC now owns 280,000 shares of the company's stock worth $2,019,000 after purchasing an additional 50,000 shares during the period. Jain Global LLC bought a new position in shares of Cartesian Therapeutics during the 4th quarter worth about $121,000. Public Employees Retirement System of Ohio bought a new position in shares of Cartesian Therapeutics during the 4th quarter worth about $112,000. Finally, Squarepoint Ops LLC bought a new position in shares of Cartesian Therapeutics during the 4th quarter worth about $131,000. Institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Price Performance

Cartesian Therapeutics stock opened at $6.94 on Tuesday. The firm has a market cap of $183.98 million, a price-to-earnings ratio of -1.36 and a beta of 0.47. Cartesian Therapeutics has a fifty-two week low of $5.60 and a fifty-two week high of $15.57. The firm has a fifty day moving average price of $6.83 and a two-hundred day moving average price of $7.43.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its earnings results on Monday, March 9th. The company reported ($1.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.56). The business had revenue of $0.95 million for the quarter, compared to analysts' expectations of $0.10 million. As a group, sell-side analysts expect that Cartesian Therapeutics will post -3.22 earnings per share for the current year.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian's technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian's approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.