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

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $45.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 134.01% from the stock’s current price.

A number of other equities analysts have also recently weighed in on RNAC. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. BTIG Research began coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.86.

Cartesian Therapeutics Trading Down 3.8 %

Shares of Cartesian Therapeutics stock opened at $19.23 on Tuesday. The company’s 50-day moving average price is $19.10 and its two-hundred day moving average price is $17.97. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $41.87. The stock has a market cap of $488.73 million, a PE ratio of -0.36 and a beta of 0.56.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.39, for a total transaction of $632,616.00. Following the transaction, the chief technology officer now owns 51,033 shares of the company’s stock, valued at $938,496.87. The trade was a 40.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Blaine Davis sold 3,961 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $66,227.92. Following the completion of the sale, the chief financial officer now directly owns 98,839 shares of the company’s stock, valued at approximately $1,652,588.08. The trade was a 3.85 % 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 90 days. 57.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cartesian Therapeutics

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cartesian Therapeutics by 22.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after buying an additional 847 shares in the last quarter. BNP Paribas Financial Markets grew its stake 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 buying an additional 909 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at approximately $49,000. Finally, JPMorgan Chase & Co. lifted its holdings in Cartesian Therapeutics by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock worth $4,981,000 after purchasing an additional 2,688 shares during the last quarter. Institutional investors 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.