HC Wainwright Reiterates “Buy” Rating for Cartesian Therapeutics (NASDAQ:RNAC)

HC Wainwright reiterated their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a report published on Thursday, Benzinga reports. HC Wainwright currently has a $54.00 target price on the stock.

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

Cartesian Therapeutics Stock Down 3.5 %

RNAC stock opened at $24.57 on Thursday. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The firm has a 50 day moving average of $20.74.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly 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 net margin of 983.93% and a negative return on equity of 58.21%. The company had revenue of $8.27 million for the quarter. Equities research analysts predict that Cartesian Therapeutics will post 1.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Cartesian Therapeutics news, Director Timothy A. Springer bought 21,612 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the transaction, the director now owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 22,446 shares of company stock valued at $365,474 over the last ninety days. Corporate insiders own 61.10% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in RNAC. SG Americas Securities LLC acquired a new stake in shares of Cartesian Therapeutics in the first quarter valued at about $31,000. Hall Laurie J Trustee acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at approximately $34,000. American International Group Inc. purchased a new stake in shares of Cartesian Therapeutics during the 1st quarter worth approximately $37,000. BNP Paribas Financial Markets acquired a new stake in shares of Cartesian Therapeutics in the 1st quarter worth approximately $38,000. Finally, Delphi Financial Group Inc. purchased a new position in Cartesian Therapeutics in the 1st quarter valued at approximately $430,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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.