Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Target Price at $38.50

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $38.50.

Several analysts have recently commented on the company. Needham & Company LLC raised their target price on Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a research note on Monday, December 29th. Wall Street Zen lowered Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. HC Wainwright lowered their target price on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Finally, BTIG Research upped their target price on Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, November 14th.

Insider Buying and Selling

In related news, CFO Blaine Davis sold 10,591 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $6.82, for a total transaction of $72,230.62. Following the transaction, the chief financial officer directly owned 121,220 shares of the company’s stock, valued at approximately $826,720.40. The trade was a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 60.30% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of institutional investors have recently modified their holdings of RNAC. AlphaQuest LLC grew its holdings in shares of Cartesian Therapeutics by 64.6% during the 3rd quarter. AlphaQuest LLC now owns 6,924 shares of the company’s stock valued at $71,000 after acquiring an additional 2,717 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Cartesian Therapeutics during the fourth quarter worth $74,000. Wells Fargo & Company MN raised its holdings in shares of Cartesian Therapeutics by 49.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock worth $85,000 after acquiring an additional 3,878 shares in the last quarter. Virtus Investment Advisers LLC boosted its position in Cartesian Therapeutics by 12.5% during the second quarter. Virtus Investment Advisers LLC now owns 9,183 shares of the company’s stock valued at $95,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Miller Financial Services LLC boosted its position in Cartesian Therapeutics by 17.2% during the fourth quarter. Miller Financial Services LLC now owns 13,643 shares of the company’s stock valued at $98,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Performance

NASDAQ RNAC opened at $6.85 on Monday. The firm’s 50 day moving average price is $7.16 and its two-hundred day moving average price is $8.22. Cartesian Therapeutics has a twelve month low of $5.98 and a twelve month high of $18.80. The stock has a market cap of $178.10 million, a price-to-earnings ratio of -4.39 and a beta of 0.42.

About Cartesian Therapeutics

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.