Cartesian Therapeutics (NASDAQ:RNAC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cartesian Therapeutics (NASDAQ:RNAC) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research firms have also recently weighed in on RNAC. HC Wainwright lowered their price target on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings raised Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. BTIG Research reiterated a “buy” rating and set a $44.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, June 10th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.60.

Cartesian Therapeutics Stock Down 1.0%

RNAC opened at $8.76 on Friday. The stock has a market capitalization of $264.99 million, a price-to-earnings ratio of -1.47 and a beta of 0.63. The firm has a 50 day moving average price of $8.61 and a 200-day moving average price of $7.56. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $12.25.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $1.34. As a group, analysts expect that Cartesian Therapeutics will post -3.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of Cartesian Therapeutics during the 2nd quarter valued at $332,000. Renaissance Technologies LLC raised its holdings in Cartesian Therapeutics by 63.7% in the 1st quarter. Renaissance Technologies LLC now owns 67,300 shares of the company’s stock worth $414,000 after purchasing an additional 26,200 shares during the period. Sei Investments Co. bought a new position in Cartesian Therapeutics in the 1st quarter worth $78,000. Millennium Management LLC lifted its position in Cartesian Therapeutics by 548.2% during the fourth quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock valued at $1,185,000 after purchasing an additional 139,009 shares in the last quarter. Finally, 683 Capital Management LLC lifted its position in Cartesian Therapeutics by 21.7% during the fourth quarter. 683 Capital Management LLC now owns 280,000 shares of the company’s stock valued at $2,019,000 after purchasing an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.