Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $38.00.

Several equities research analysts recently issued reports on RNAC shares. BTIG Research lifted their price target on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, November 14th. Wall Street Zen downgraded shares of Cartesian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Monday. Finally, HC Wainwright lowered their target price on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 19th.

Cartesian Therapeutics Trading Down 7.6%

NASDAQ RNAC opened at $8.29 on Wednesday. The firm’s 50 day simple moving average is $8.11 and its 200 day simple moving average is $9.95. The firm has a market capitalization of $215.54 million, a price-to-earnings ratio of -5.31 and a beta of 0.36. Cartesian Therapeutics has a 1 year low of $5.98 and a 1 year high of $20.30.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.57). The company had revenue of $0.45 million during the quarter, compared to analyst estimates of $0.18 million. On average, equities research analysts forecast that Cartesian Therapeutics will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RNAC. AlphaQuest LLC lifted its holdings in shares of Cartesian Therapeutics by 64.6% during the third quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock worth $71,000 after purchasing an additional 2,717 shares during the period. Virtus Investment Advisers LLC raised its position in Cartesian Therapeutics by 12.5% during the 2nd quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock worth $95,000 after purchasing an additional 1,023 shares during the last quarter. Deutsche Bank AG raised its position in Cartesian Therapeutics by 104.1% during the 1st quarter. Deutsche Bank AG now owns 7,424 shares of the company’s stock worth $98,000 after purchasing an additional 3,786 shares during the last quarter. Miller Financial Services LLC acquired a new position in Cartesian Therapeutics during the 2nd quarter worth about $121,000. Finally, Bank of America Corp DE grew its position in shares of Cartesian Therapeutics by 133.0% in the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock valued at $145,000 after buying an additional 7,952 shares during the last quarter. 86.95% of the stock is owned by institutional investors.

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.