Cartesian Therapeutics (NASDAQ:RNAC) PT Raised to $43.00 at Canaccord Genuity Group

Cartesian Therapeutics (NASDAQ:RNAC) had its price target hoisted by equities research analysts at Canaccord Genuity Group from $38.00 to $43.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 144.04% from the company’s current price.

Other analysts have also issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Cartesian Therapeutics in a report on Monday, June 17th. Needham & Company LLC reissued a “buy” rating and set a $42.00 price target on shares of Cartesian Therapeutics in a report on Monday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. Oppenheimer downgraded Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, SVB Leerink started coverage on Cartesian Therapeutics in a research report on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Cartesian Therapeutics Trading Up 11.7 %

Shares of NASDAQ:RNAC opened at $17.62 on Wednesday. The stock has a fifty day simple moving average of $25.93 and a two-hundred day simple moving average of $22.38. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Cartesian Therapeutics in the first quarter worth approximately $31,000. Hall Laurie J Trustee bought a new position in Cartesian Therapeutics in the first quarter worth approximately $34,000. American International Group Inc. bought a new position in Cartesian Therapeutics in the first quarter worth approximately $37,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the first quarter worth approximately $38,000. Finally, Delphi Financial Group Inc. bought a new position in Cartesian Therapeutics in the first quarter worth approximately $430,000. Institutional investors own 86.95% of the company’s stock.

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.