Cartesian Therapeutics (NASDAQ:RNAC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report released on Monday morning, Benzinga reports. They currently have a $42.00 target price on the stock.

Other research analysts also recently issued reports about the stock. Oppenheimer restated an outperform rating and set a $50.00 target price on shares of Cartesian Therapeutics in a research report on Monday, June 24th. Mizuho began coverage on shares of Cartesian Therapeutics in a research report on Friday, May 24th. They set a buy rating and a $40.00 target price for the company. HC Wainwright restated a buy rating and set a $54.00 target price on shares of Cartesian Therapeutics in a research report on Monday, June 17th. SVB Leerink began coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. They set an outperform rating and a $39.00 target price for the company. Finally, Leerink Partnrs restated an outperform rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Cartesian Therapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $43.83.

Cartesian Therapeutics Price Performance

Shares of RNAC opened at $17.62 on Monday. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $42.60. The company’s fifty day moving average price is $25.93 and its 200-day moving average price is $22.38.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The firm had revenue of $5.84 million for the quarter. As a group, equities research analysts predict that Cartesian Therapeutics will post 2.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Cartesian Therapeutics in the first quarter worth about $31,000. Hall Laurie J Trustee acquired a new position in shares of Cartesian Therapeutics during the 1st quarter worth about $34,000. American International Group Inc. acquired a new position in shares of Cartesian Therapeutics during the 1st quarter worth about $37,000. BNP Paribas Financial Markets acquired a new position in shares of Cartesian Therapeutics during the 1st quarter worth about $38,000. Finally, Delphi Financial Group Inc. acquired a new position in shares of Cartesian Therapeutics during the 1st quarter worth about $430,000. Institutional investors and hedge funds 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.