Oppenheimer Reiterates Outperform Rating for Cartesian Therapeutics (NASDAQ:RNAC)

Oppenheimer restated their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $50.00 target price on the stock.

A number of other research analysts have also recently commented on the company. HC Wainwright reiterated a buy rating and issued a $54.00 price target on shares of Cartesian Therapeutics in a research note on Monday, June 17th. SVB Leerink initiated coverage on Cartesian Therapeutics in a research note on Tuesday, April 23rd. They issued an outperform rating and a $39.00 price target for the company. Needham & Company LLC reiterated a buy rating and issued a $42.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, May 8th. Mizuho initiated coverage on Cartesian Therapeutics in a research note on Friday, May 24th. They issued a buy rating and a $40.00 price target for the company. Finally, Leerink Partnrs reiterated an outperform rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $45.00.

Cartesian Therapeutics Stock Performance

NASDAQ RNAC opened at $23.04 on Monday. The business has a fifty day moving average price of $25.40 and a two-hundred day moving average price of $22.34. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its earnings results on Wednesday, May 8th. The company reported ($1.97) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($1.16). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 983.93%. The business had revenue of $5.84 million for the quarter. As a group, research analysts predict that Cartesian Therapeutics will post 2.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hall Laurie J Trustee acquired a new stake in Cartesian Therapeutics during the 1st quarter worth about $34,000. BNP Paribas Financial Markets acquired a new stake in Cartesian Therapeutics during the 1st quarter worth about $38,000. Delphi Financial Group Inc. acquired a new stake in Cartesian Therapeutics during the 1st quarter worth about $430,000. SG Americas Securities LLC acquired a new stake in Cartesian Therapeutics during the 1st quarter worth about $31,000. Finally, Vanguard Group Inc. acquired a new stake in Cartesian Therapeutics during the 1st quarter worth about $4,105,000. 86.95% of the stock is 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.