Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Recommendation of “Moderate Buy” by Analysts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $42.86.

RNAC has been the topic of several recent analyst reports. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and issued a $45.00 price objective (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Finally, BTIG Research initiated coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 target price for the company.

Insider Buying and Selling

In other Cartesian Therapeutics news, insider Milos Miljkovic sold 35,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.13, for a total value of $564,550.00. Following the sale, the insider now owns 18,273 shares in the company, valued at approximately $294,743.49. This represents a 65.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Metin Kurtoglu sold 32,789 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $16.67, for a total transaction of $546,592.63. Following the transaction, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at $850,720.11. This represents a 39.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,089 shares of company stock valued at $2,169,555 over the last three months. Corporate insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics during the second quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cartesian Therapeutics during the second quarter valued at approximately $49,000. Barclays PLC raised its holdings in Cartesian Therapeutics by 208.6% in the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after acquiring an additional 7,849 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Cartesian Therapeutics in the 2nd quarter valued at approximately $351,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Trading Down 4.5 %

RNAC opened at $18.47 on Friday. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $41.87. The business’s 50-day moving average price is $20.01 and its 200-day moving average price is $18.72. The company has a market cap of $469.42 million, a P/E ratio of -0.35 and a beta of 0.60.

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.