Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $42.86.

Several equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Monday, January 27th. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, BTIG Research initiated 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.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 2,458 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $41,368.14. Following the completion of the sale, the chief technology officer now directly owns 62,258 shares in the company, valued at $1,047,802.14. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blaine Davis sold 4,028 shares of Cartesian Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $67,791.24. Following the transaction, the chief financial officer now directly owns 94,811 shares in the company, valued at approximately $1,595,669.13. The trade was a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,744 shares of company stock worth $247,337 in the last three months. 57.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RNAC. FMR LLC lifted its position in shares of Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after buying an additional 2,341,054 shares in the last quarter. Great Point Partners LLC purchased a new position in shares of Cartesian Therapeutics during the 3rd quarter valued at about $3,224,000. MPM Bioimpact LLC lifted its position in shares of Cartesian Therapeutics by 14.6% during the 4th quarter. MPM Bioimpact LLC now owns 721,139 shares of the company’s stock valued at $12,916,000 after buying an additional 91,716 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cartesian Therapeutics by 63.0% during the 4th quarter. Geode Capital Management LLC now owns 221,257 shares of the company’s stock valued at $3,963,000 after buying an additional 85,557 shares in the last quarter. Finally, 683 Capital Management LLC lifted its position in shares of Cartesian Therapeutics by 65.7% during the 4th quarter. 683 Capital Management LLC now owns 125,000 shares of the company’s stock valued at $2,239,000 after buying an additional 49,569 shares in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.

Cartesian Therapeutics Trading Up 0.4 %

Shares of Cartesian Therapeutics stock opened at $17.92 on Thursday. The firm has a market capitalization of $455.44 million, a P/E ratio of -0.34 and a beta of 0.71. The business has a fifty day simple moving average of $18.69 and a two-hundred day simple moving average of $18.57. Cartesian Therapeutics has a 12 month low of $11.67 and a 12 month high of $41.87.

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.