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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $42.14.

A number of research analysts recently weighed in on RNAC shares. HC Wainwright decreased their target price on shares of Cartesian Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, March 14th. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research report on Thursday, March 13th.

Insider Activity at Cartesian Therapeutics

In other news, CFO Blaine Davis sold 4,028 shares of Cartesian Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $67,791.24. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Metin Kurtoglu sold 2,458 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $41,368.14. Following the completion of the sale, the chief technology officer now owns 62,258 shares in the company, valued at approximately $1,047,802.14. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,434 shares of company stock worth $125,114. Insiders own 57.90% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in shares of Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares during the period. Virtus ETF Advisers LLC bought a new position in Cartesian Therapeutics in the 4th quarter valued at about $63,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 acquiring an additional 847 shares during the period. Wells Fargo & Company MN lifted its position in Cartesian Therapeutics by 112.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,847 shares of the company’s stock worth $87,000 after acquiring an additional 2,568 shares during the last quarter. Finally, Corebridge Financial Inc. boosted its holdings in shares of Cartesian Therapeutics by 32.6% during the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock worth $92,000 after acquiring an additional 1,258 shares during the period. 86.95% of the stock is owned by institutional investors.

Cartesian Therapeutics Stock Down 19.0 %

NASDAQ:RNAC opened at $10.00 on Monday. Cartesian Therapeutics has a twelve month low of $9.12 and a twelve month high of $41.87. The company has a market cap of $259.07 million, a P/E ratio of -0.19 and a beta of 0.55. The business has a 50 day moving average price of $17.32 and a two-hundred day moving average price of $18.67.

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.