HC Wainwright Reaffirms Buy Rating for Cartesian Therapeutics (NASDAQ:RNAC)

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $45.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 134.01% from the company’s previous close.

RNAC has been the subject of a number of other reports. BTIG Research started coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research note on Monday. Finally, Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cartesian Therapeutics has an average rating of “Moderate Buy” and an average price target of $42.86.

Cartesian Therapeutics Stock Down 3.8 %

Shares of RNAC stock opened at $19.23 on Tuesday. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $41.87. The firm has a market cap of $488.73 million, a PE ratio of -0.36 and a beta of 0.56. The stock has a 50 day moving average of $19.10 and a 200-day moving average of $17.97.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, CFO Blaine Davis sold 3,961 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $66,227.92. Following the sale, the chief financial officer now directly owns 98,839 shares in the company, valued at $1,652,588.08. This represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Milos Miljkovic sold 35,000 shares of the 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 sale, the insider now owns 18,273 shares in the company, valued at $294,743.49. The trade was a 65.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 142,833 shares of company stock worth $2,416,892 over the last three months. Company insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in shares of Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after purchasing an additional 909 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Cartesian Therapeutics during the second quarter worth $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cartesian Therapeutics during the second quarter worth $49,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cartesian Therapeutics by 22.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after acquiring an additional 847 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Cartesian Therapeutics during the fourth quarter valued at $97,000. Institutional investors own 86.95% of the company’s stock.

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.