Cartesian Therapeutics (NASDAQ:RNAC) Price Target Increased to $43.00 by Analysts at Canaccord Genuity Group

Cartesian Therapeutics (NASDAQ:RNAC) had its target price upped by investment analysts at Canaccord Genuity Group from $38.00 to $43.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 141.57% from the company’s current price.

Other research analysts have also issued reports about the stock. Mizuho started coverage on shares of Cartesian Therapeutics in a research report on Friday, May 24th. They set a “buy” rating and a $40.00 price target for the company. Leerink Partnrs restated an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. HC Wainwright reiterated a “buy” rating and set a $54.00 price target on shares of Cartesian Therapeutics in a research report on Monday, June 17th. Oppenheimer cut shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of Cartesian Therapeutics in a research note on Monday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.67.

Cartesian Therapeutics Stock Performance

RNAC traded up $2.03 during trading on Wednesday, reaching $17.80. 125,094 shares of the company were exchanged, compared to its average volume of 77,906. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60. The company’s 50-day moving average is $26.06 and its two-hundred day moving average is $22.45.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.97) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($1.16). The firm had revenue of $5.84 million during the quarter. Research analysts forecast that Cartesian Therapeutics will post 2.28 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Cartesian Therapeutics in the 1st quarter worth approximately $31,000. Hall Laurie J Trustee purchased a new position in Cartesian Therapeutics in the 1st quarter worth $34,000. American International Group Inc. bought a new stake in Cartesian Therapeutics in the first quarter worth $37,000. BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics during the first quarter valued at about $38,000. Finally, Delphi Financial Group Inc. bought a new position in shares of Cartesian Therapeutics during the first quarter valued at about $430,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.