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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given an average rating of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $42.14.

RNAC has been the subject of several analyst reports. HC Wainwright cut their price target on Cartesian Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, March 14th. BTIG Research assumed coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research note on Thursday, March 13th.

Cartesian Therapeutics Stock Down 19.0 %

Shares of RNAC stock opened at $10.00 on Monday. The stock’s 50-day moving average price is $17.32 and its 200 day moving average price is $18.71. The stock has a market capitalization of $259.07 million, a PE ratio of -0.19 and a beta of 0.55. Cartesian Therapeutics has a 52-week low of $9.12 and a 52-week high of $41.87.

Institutional Trading of Cartesian Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. MPM Bioimpact LLC lifted its position in shares of Cartesian Therapeutics by 14.6% during the 4th quarter. MPM Bioimpact LLC now owns 721,139 shares of the company’s stock valued at $12,916,000 after acquiring an additional 91,716 shares during the period. Nuveen Asset Management LLC raised its holdings in Cartesian Therapeutics by 197.8% during the fourth quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company’s stock worth $1,291,000 after purchasing an additional 47,889 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cartesian Therapeutics by 44.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock worth $104,000 after purchasing an additional 1,789 shares in the last quarter. Bank of America Corp DE grew its holdings in Cartesian Therapeutics by 54.4% in the fourth quarter. Bank of America Corp DE now owns 11,690 shares of the company’s stock valued at $209,000 after purchasing an additional 4,120 shares during the last quarter. Finally, 683 Capital Management LLC increased its position in shares of Cartesian Therapeutics by 65.7% in the fourth quarter. 683 Capital Management LLC now owns 125,000 shares of the company’s stock valued at $2,239,000 after buying an additional 49,569 shares in the last quarter. 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.