Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $45.00 Consensus Price Target from Brokerages

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $45.00.

Several research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $42.00 target price on shares of Cartesian Therapeutics in a research note on Monday. Leerink Partnrs reissued an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price target on shares of Cartesian Therapeutics in a report on Monday, June 24th. Mizuho assumed coverage on Cartesian Therapeutics in a report on Friday, May 24th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $54.00 price objective on shares of Cartesian Therapeutics in a report on Monday, June 17th.

Institutional Trading of Cartesian Therapeutics

A number of large investors have recently made changes to their positions in the company. Artal Group S.A. acquired a new stake in shares of Cartesian Therapeutics in the 1st quarter valued at about $5,939,000. American International Group Inc. acquired a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $37,000. Vanguard Group Inc. acquired a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $4,105,000. SG Americas Securities LLC acquired a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $31,000. Finally, Delphi Financial Group Inc. acquired a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $430,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Cartesian Therapeutics Stock Down 10.1 %

Shares of NASDAQ RNAC opened at $24.27 on Friday. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $42.60. The stock has a fifty day simple moving average of $26.16 and a 200-day simple moving average of $22.49.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The firm had revenue of $5.84 million during the quarter. As a group, analysts anticipate that Cartesian Therapeutics will post 2.28 earnings per share for the current year.

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.