Cartesian Therapeutics (NASDAQ:RNAC) Price Target Raised to $54.00 at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) had its target price upped by research analysts at HC Wainwright from $2.00 to $54.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 162.26% from the stock's previous close.

A number of other equities research analysts have also weighed in on RNAC. SVB Leerink started coverage on Cartesian Therapeutics in a report on Tuesday. They issued an "outperform" rating and a $39.00 price objective on the stock. Needham & Company LLC started coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They issued a "buy" rating and a $42.00 price objective on the stock.

Cartesian Therapeutics Stock Up 12.8 %

Shares of NASDAQ RNAC traded up $2.33 during midday trading on Tuesday, reaching $20.59. 124,353 shares of the company were exchanged, compared to its average volume of 43,123. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The company's fifty day moving average is $19.32.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($2.10). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%. The company had revenue of $8.27 million for the quarter. As a group, analysts anticipate that Cartesian Therapeutics will post -1.5 earnings per share for the current year.

Insider Activity

In related news, Director Timothy A. Springer purchased 21,612 shares of Cartesian Therapeutics stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $16.20 per share, for a total transaction of $350,114.40. Following the transaction, the director now owns 1,017,228 shares in the company, valued at $16,479,093.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders purchased 22,472 shares of company stock worth $365,981. Company insiders own 31.20% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 52,775 shares of the company's stock, valued at approximately $34,000. Hall Laurie J Trustee owned about 0.98% of Cartesian Therapeutics as of its most recent filing with the SEC. Hedge funds and other institutional investors own 86.95% of the company's stock.

About Cartesian Therapeutics

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.