Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $42.86 Consensus PT from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $42.86.

RNAC has been the subject of several recent analyst reports. BTIG Research assumed coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Monday, January 13th. Finally, HC Wainwright restated a “buy” rating and issued a $45.00 target price (up from $41.00) on shares of Cartesian Therapeutics in a research note on Wednesday, December 4th.

Insider Buying and Selling

In related news, insider Milos Miljkovic sold 35,000 shares of the business’s stock in a transaction on 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 directly owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. The trade was a 65.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Metin Kurtoglu sold 25,900 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.44, for a total value of $425,796.00. Following the transaction, the chief technology officer now owns 51,033 shares of the company’s stock, valued at approximately $838,982.52. The trade was a 33.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 142,833 shares of company stock worth $2,416,892 in the last 90 days. Corporate insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Logos Global Management LP bought a new stake in Cartesian Therapeutics in the 2nd quarter valued at $2,431,000. FMR LLC grew its position in shares of Cartesian Therapeutics by 458.3% in the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after purchasing an additional 2,341,054 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Cartesian Therapeutics during the second quarter worth approximately $811,000. BNP Paribas Financial Markets lifted its holdings in Cartesian Therapeutics by 122.5% during the 3rd 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. Finally, State Street Corp grew its holdings in Cartesian Therapeutics by 2.5% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ:RNAC opened at $19.29 on Wednesday. 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. The business’s 50-day simple moving average is $18.86 and its 200 day simple moving average is $17.86.

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.