Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Stock Has Consensus Target Price of $32.60

Key Points

• Analysts give Cartesian Therapeutics a “Moderate Buy” consensus: five of seven covering firms rate the stock a buy, while one rates it hold and one sell. The average 12-month price target is $32.60.
• Cartesian reported quarterly earnings of -$0.38 per share, beating analysts’ consensus estimate of -$1.01 per share by $0.63.
• RNAC shares rose 11.1% in Friday midday trading to $7.53. Institutional investors and hedge funds own 86.95% of the company’s shares.

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $32.60.

Several research firms recently issued reports on RNAC. HC Wainwright reissued a "buy" rating and issued a $25.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, September 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, September 29th. Wall Street Zen raised shares of Cartesian Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Wedbush reaffirmed an "outperform" rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, August 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cartesian Therapeutics in a research note on Wednesday, September 9th.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RNAC. Sei Investments Co. acquired a new position in Cartesian Therapeutics during the first quarter valued at approximately $78,000. Bank of New York Mellon Corp acquired a new position in shares of Cartesian Therapeutics during the second quarter worth about $332,000. Renaissance Technologies LLC lifted its stake in shares of Cartesian Therapeutics by 63.7% during the first quarter. Renaissance Technologies LLC now owns 67,300 shares of the company's stock worth $414,000 after purchasing an additional 26,200 shares in the last quarter. Privium Fund Management B.V. boosted its position in shares of Cartesian Therapeutics by 2.2% in the third quarter. Privium Fund Management B.V. now owns 155,000 shares of the company's stock worth $1,118,000 after buying an additional 3,325 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Cartesian Therapeutics by 0.7% in the second quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company's stock worth $23,493,000 after buying an additional 16,133 shares during the period. Institutional investors and hedge funds own 86.95% of the company's stock.

Cartesian Therapeutics Trading Up 11.1%

Shares of NASDAQ RNAC traded up $0.75 during midday trading on Friday, reaching $7.53. 121,614 shares of the stock were exchanged, compared to its average volume of 129,075. The stock has a 50 day moving average price of $7.40 and a 200-day moving average price of $7.64. The company has a market capitalization of $227.78 million, a P/E ratio of -1.52 and a beta of 0.74. Cartesian Therapeutics has a 52-week low of $5.60 and a 52-week high of $11.00.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($1.01) by $0.63. On average, analysts forecast that Cartesian Therapeutics will post -3.15 earnings per share for the current year.

About Cartesian Therapeutics

Cartesian Therapeutics, Inc NASDAQ: RNAC is a clinical-stage biotechnology company focused on developing mRNA cell therapies for autoimmune diseases. The company's platform is designed to program a patient's own immune cells with messenger RNA, enabling the development of cell therapies that are intended to provide targeted treatment without permanent genetic modification.

Cartesian's lead product candidate is Descartes-08, an autologous CAR T-cell therapy that targets B-cell maturation antigen (BCMA).

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