Cartesian Therapeutics’ (RNAC) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $40.00 target price on the stock.

Several other analysts have also recently weighed in on RNAC. BTIG Research assumed coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a report on Thursday, March 13th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Cartesian Therapeutics Stock Performance

RNAC opened at $10.67 on Wednesday. The stock has a fifty day moving average of $16.06 and a 200-day moving average of $18.40. The company has a market capitalization of $276.43 million, a P/E ratio of -0.20 and a beta of 0.55. Cartesian Therapeutics has a fifty-two week low of $8.85 and a fifty-two week high of $41.87.

Institutional Trading of Cartesian Therapeutics

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers raised its position in Cartesian Therapeutics by 27.5% during the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock valued at $171,000 after purchasing an additional 2,805 shares in the last quarter. MPM Bioimpact LLC raised its holdings 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 worth $12,916,000 after buying an additional 91,716 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Cartesian Therapeutics by 197.8% during the 4th quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company’s stock worth $1,291,000 after buying an additional 47,889 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cartesian Therapeutics by 44.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock valued at $104,000 after buying an additional 1,789 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Cartesian Therapeutics by 54.4% in the fourth quarter. Bank of America Corp DE now owns 11,690 shares of the company’s stock valued at $209,000 after acquiring an additional 4,120 shares during the last quarter. Institutional investors and hedge funds 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.