Cartesian Therapeutics (NASDAQ:RNAC) Cut to “Market Perform” at Oppenheimer

Oppenheimer cut shares of Cartesian Therapeutics (NASDAQ:RNAC) from an outperform rating to a market perform rating in a report published on Tuesday morning, MarketBeat Ratings reports.

A number of other equities analysts have also issued reports on RNAC. Needham & Company LLC reiterated a buy rating and issued a $42.00 target price on shares of Cartesian Therapeutics in a research report on Monday. Mizuho assumed coverage on shares of Cartesian Therapeutics in a research report on Friday, May 24th. They issued a buy rating and a $40.00 target price for the company. SVB Leerink assumed coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. They issued an outperform rating and a $39.00 target price for the company. Leerink Partnrs reiterated an outperform rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. Finally, HC Wainwright reiterated a buy rating and issued a $54.00 target price on shares of Cartesian Therapeutics in a research report on Monday, June 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cartesian Therapeutics currently has an average rating of Moderate Buy and an average target price of $45.00.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $15.77 on Tuesday. The company has a 50-day simple moving average of $26.06 and a 200-day simple moving average of $22.45. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.97) EPS for the quarter, missing the consensus estimate of ($0.81) by ($1.16). The firm had revenue of $5.84 million for the quarter. On average, research analysts predict that Cartesian Therapeutics will post 2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Cartesian Therapeutics during the first quarter valued at about $31,000. Hall Laurie J Trustee purchased a new stake in Cartesian Therapeutics during the first quarter valued at about $34,000. American International Group Inc. purchased a new stake in Cartesian Therapeutics during the first quarter valued at about $37,000. BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics during the first quarter valued at about $38,000. Finally, Delphi Financial Group Inc. purchased a new stake in Cartesian Therapeutics during the first quarter valued at about $430,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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.