Cartesian Therapeutics (NASDAQ:RNAC) Rating Reiterated by HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $54.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 119.78% from the stock’s current price.

A number of other brokerages also recently issued reports on RNAC. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. SVB Leerink began coverage on Cartesian Therapeutics in a report on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cartesian Therapeutics presently has a consensus rating of “Buy” and an average price target of $43.75.

Cartesian Therapeutics Stock Performance

RNAC stock opened at $24.57 on Thursday. The stock’s 50 day moving average price is $20.74. 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 earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share 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 983.93%. The firm had revenue of $8.27 million for the quarter. Analysts anticipate that Cartesian Therapeutics will post 1.71 EPS for the current year.

Insider Activity

In other news, Director Timothy A. Springer acquired 21,612 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $16.20 per share, with a total value of $350,114.40. Following the completion of the acquisition, the director now owns 1,017,228 shares of the company’s stock, valued at $16,479,093.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders bought 22,446 shares of company stock valued at $365,474. 61.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Cartesian Therapeutics in the first quarter valued at $31,000. Hall Laurie J Trustee purchased a new position in shares of Cartesian Therapeutics in the first quarter valued at $34,000. American International Group Inc. purchased a new position in shares of Cartesian Therapeutics in the first quarter valued at $37,000. BNP Paribas Financial Markets purchased a new position in shares of Cartesian Therapeutics in the first quarter valued at $38,000. Finally, Delphi Financial Group Inc. purchased a new position in shares of Cartesian Therapeutics in the first quarter valued at $430,000. 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.