Cartesian Therapeutics (NASDAQ:RNAC) Price Target Lowered to $41.00 at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective decreased by analysts at HC Wainwright from $45.00 to $41.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 97.50% from the company’s previous close.

A number of other equities analysts also recently commented on RNAC. TD Cowen began coverage on shares of Cartesian Therapeutics in a research note on Tuesday, August 6th. They issued a “buy” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Cartesian Therapeutics Stock Down 0.1 %

Shares of Cartesian Therapeutics stock opened at $20.76 on Friday. The stock’s fifty day moving average is $18.85 and its two-hundred day moving average is $20.38. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60. The company has a market capitalization of $444.01 million, a PE ratio of -0.39 and a beta of 0.63.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $1.35. The company had revenue of $33.45 million for the quarter, compared to analysts’ expectations of $6.00 million. As a group, research analysts anticipate that Cartesian Therapeutics will post 3.99 earnings per share for the current year.

Insider Activity at Cartesian Therapeutics

In related news, Director Timothy A. Springer bought 5,514 shares of the stock in a transaction on Wednesday, October 2nd. The stock was bought at an average price of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the acquisition, the director now directly owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Timothy A. Springer purchased 5,514 shares of Cartesian Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was purchased at an average cost of $17.38 per share, with a total value of $95,833.32. Following the transaction, the director now owns 7,823,559 shares in the company, valued at approximately $135,973,455.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy A. Springer acquired 8,016 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $12.72 per share, with a total value of $101,963.52. Following the completion of the purchase, the director now directly owns 11,509 shares in the company, valued at $146,394.48. The trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 93,831 shares of company stock valued at $2,010,993 over the last ninety days. 57.90% of the stock is owned by company insiders.

Institutional Trading of Cartesian Therapeutics

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in Cartesian Therapeutics in the first quarter worth $4,105,000. Logos Global Management LP purchased a new position in Cartesian Therapeutics during the 2nd quarter worth $2,431,000. BNP Paribas Financial Markets acquired a new position in Cartesian Therapeutics during the 1st quarter valued at about $38,000. American International Group Inc. acquired a new position in Cartesian Therapeutics during the 1st quarter valued at about $37,000. Finally, SG Americas Securities LLC purchased a new stake in Cartesian Therapeutics in the first quarter valued at about $31,000. 86.95% of the stock is currently owned by 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.