Cartesian Therapeutics, Inc. (RNAC) - What Are Brokerages Thinking About This Stock?

Key Points

• Analysts maintain a “Moderate Buy” consensus on Cartesian Therapeutics, with five buy ratings, one hold and one sell. The average 12-month price target is $32.60, well above the stock’s recent price of $6.78.
• Shares fell 3.0% in mid-day trading and remain closer to their 12-month low of $5.60 than their high of $11.00. The company reported quarterly EPS of $0.46, beating the consensus estimate of a $0.88 loss.
• Institutional investors own approximately 86.95% of the company, with several hedge funds increasing their positions. Cartesian is developing mRNA cell therapies, including its lead Descartes-08 CAR T-cell candidate for autoimmune diseases.

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

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cartesian Therapeutics in a research report on Wednesday, September 9th. Zacks Research raised Cartesian Therapeutics from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, September 30th. Wedbush reaffirmed an "outperform" rating and set a $38.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, August 18th. Finally, Wall Street Zen raised Cartesian Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 8th.

Cartesian Therapeutics Trading Down 3.0%

Cartesian Therapeutics stock traded down $0.21 during mid-day trading on Tuesday, hitting $6.78. The company had a trading volume of 11,029 shares, compared to its average volume of 197,220. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $11.00. The stock's 50 day moving average price is $8.46 and its two-hundred day moving average price is $7.97. The company has a market capitalization of $205.03 million, a PE ratio of -1.14 and a beta of 0.65.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $1.34. Equities research analysts anticipate that Cartesian Therapeutics will post -3.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. purchased a new stake in Cartesian Therapeutics during the 1st quarter valued at $78,000. Squarepoint Ops LLC increased its holdings in Cartesian Therapeutics by 0.7% in the 2nd quarter. Squarepoint Ops LLC now owns 2,254,619 shares of the company's stock worth $23,493,000 after acquiring an additional 16,133 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Cartesian Therapeutics by 63.7% in 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. Bank of New York Mellon Corp bought a new stake in Cartesian Therapeutics during the second quarter valued at about $332,000. Finally, 683 Capital Management LLC lifted its holdings in Cartesian Therapeutics by 21.7% in 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 in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

About Cartesian Therapeutics

Cartesian Therapeutics, Inc is a clinical-stage biotechnology company focused on developing mRNA cell therapies for autoimmune diseases. The company's platform is designed to genetically program a patient's own T cells with messenger RNA, enabling the development of transiently engineered cell therapies that may be administered without permanent genetic modification.

Cartesian's lead product candidate is Descartes-08, an autologous anti-BCMA CAR T-cell therapy being developed for autoimmune conditions, including generalized myasthenia gravis and systemic lupus erythematosus.

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