Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $42.86 Average Price Target from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given an average rating of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $42.86.

Several brokerages have recently weighed in on RNAC. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research note on Monday, January 13th. BTIG Research started coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $45.00 price target (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd.

Cartesian Therapeutics Price Performance

Shares of RNAC opened at $19.29 on Wednesday. The firm has a 50 day simple moving average of $18.86 and a two-hundred day simple moving average of $17.86. The company has a market cap of $490.35 million, a P/E ratio of -0.37 and a beta of 0.56. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $41.87.

Insider Activity

In other news, CTO Metin Kurtoglu sold 34,400 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $18.39, for a total value of $632,616.00. Following the transaction, the chief technology officer now owns 51,033 shares in the company, valued at $938,496.87. This trade represents a 40.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Milos Miljkovic sold 35,000 shares of Cartesian Therapeutics stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total value of $564,550.00. Following the transaction, the insider now owns 18,273 shares in the company, valued at approximately $294,743.49. This represents a 65.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,833 shares of company stock valued at $2,416,892 in the last ninety days. Corporate insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RNAC. Logos Global Management LP acquired a new position in Cartesian Therapeutics during the 2nd quarter worth $2,431,000. FMR LLC raised its stake in Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock worth $45,972,000 after acquiring an additional 2,341,054 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Cartesian Therapeutics during the second quarter worth about $811,000. BNP Paribas Financial Markets boosted its position in shares of Cartesian Therapeutics by 122.5% in 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 during the period. Finally, State Street Corp lifted its stake in Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after buying an additional 3,830 shares during the last quarter. Institutional investors and hedge funds 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.