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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $42.86.

A number of equities research analysts have weighed in on the company. BTIG Research started coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Monday, January 13th.

Insider Buying and Selling at Cartesian Therapeutics

In other news, CFO Blaine Davis sold 3,961 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $66,227.92. Following the transaction, the chief financial officer now owns 98,839 shares of the company’s stock, valued at approximately $1,652,588.08. This trade represents a 3.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Milos Miljkovic sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total transaction of $564,550.00. Following the sale, the insider now directly owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. This trade represents a 65.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,833 shares of company stock worth $2,416,892. 57.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake in shares of Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at approximately $49,000. Barclays PLC boosted its stake in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after acquiring an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Cartesian Therapeutics during the second quarter valued at approximately $351,000. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Stock Performance

Shares of Cartesian Therapeutics stock opened at $19.85 on Wednesday. The firm has a market cap of $504.49 million, a P/E ratio of -0.38 and a beta of 0.56. The firm’s 50-day simple moving average is $18.85 and its 200-day simple moving average is $17.88. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $41.87.

Cartesian Therapeutics Company Profile

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.