Cartesian Therapeutics (NASDAQ:RNAC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $42.00 target price on the stock.

RNAC has been the subject of a number of other research reports. Leerink Partnrs restated an outperform rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. SVB Leerink assumed coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. They set an outperform rating and a $39.00 target price for the company. Mizuho assumed coverage on shares of Cartesian Therapeutics in a research report on Friday, May 24th. They set a buy rating and a $40.00 target price for the company. Oppenheimer restated an outperform rating and set a $50.00 target price on shares of Cartesian Therapeutics in a research report on Monday, June 24th. Finally, HC Wainwright restated a buy rating and set a $54.00 target price on shares of Cartesian Therapeutics in a research report on Monday, June 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $45.00.

Cartesian Therapeutics Price Performance

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

Cartesian Therapeutics (NASDAQ:RNAC) last announced 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 firm had revenue of $5.84 million for the quarter. As a group, equities analysts expect that Cartesian Therapeutics will post 2.28 EPS for the current year.

Hedge Funds Weigh In On Cartesian Therapeutics

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Cartesian Therapeutics during the first quarter valued at $31,000. Hall Laurie J Trustee bought a new stake in shares of Cartesian Therapeutics in the 1st quarter worth about $34,000. American International Group Inc. bought a new stake in shares of Cartesian Therapeutics in the 1st quarter worth about $37,000. BNP Paribas Financial Markets bought a new stake in shares of Cartesian Therapeutics in the 1st quarter worth about $38,000. Finally, Delphi Financial Group Inc. bought a new stake in shares of Cartesian Therapeutics in the 1st quarter worth about $430,000. 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.