Analysts Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $45.00

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) has been given an average recommendation of “Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $45.00.

A number of research firms have issued reports on RNAC. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of Cartesian Therapeutics in a report on Monday. HC Wainwright restated a “buy” rating and set a $54.00 price target on shares of Cartesian Therapeutics in a report on Monday, June 17th. Leerink Partnrs reiterated an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. Mizuho initiated coverage on shares of Cartesian Therapeutics in a research note on Friday, May 24th. They issued a “buy” rating and a $40.00 target price for the company. Finally, SVB Leerink initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 target price for the company.

Cartesian Therapeutics Trading Down 10.1 %

Shares of NASDAQ:RNAC opened at $24.27 on Friday. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The firm has a fifty day moving average price of $26.16 and a 200 day moving average price of $22.49.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The company had revenue of $5.84 million for the quarter. As a group, research analysts anticipate that Cartesian Therapeutics will post 2.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RNAC. Hall Laurie J Trustee acquired a new position in Cartesian Therapeutics in the first quarter worth about $34,000. BNP Paribas Financial Markets acquired a new stake in shares of Cartesian Therapeutics during the first quarter worth approximately $38,000. Delphi Financial Group Inc. acquired a new stake in shares of Cartesian Therapeutics during the first quarter worth approximately $430,000. SG Americas Securities LLC acquired a new stake in shares of Cartesian Therapeutics during the first quarter worth approximately $31,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Cartesian Therapeutics during the first quarter worth approximately $4,105,000. Institutional investors and hedge funds 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.