Cartesian Therapeutics (NASDAQ:RNAC) Now Covered by Analysts at SVB Leerink

SVB Leerink assumed coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a report issued on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $39.00 target price on the stock.

Several other equities research analysts also recently issued reports on the company. Needham & Company LLC initiated 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. HC Wainwright reaffirmed a buy rating and issued a $60.00 target price on shares of Cartesian Therapeutics in a report on Monday, March 18th.

Cartesian Therapeutics Trading Up 12.8 %

NASDAQ RNAC opened at $20.59 on Tuesday. The stock’s fifty day moving average is $19.32. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $42.60.

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

Insider Transactions at Cartesian Therapeutics

In related news, Director Timothy A. Springer acquired 21,612 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the completion of the purchase, the director now directly owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders purchased 22,472 shares of company stock worth $365,981. 31.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee acquired a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 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. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

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.