Cartesian Therapeutics (NASDAQ:RNAC) Price Target Lowered to $49.00 at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC) had its price target decreased by research analysts at HC Wainwright from $54.00 to $49.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 178.09% from the company’s previous close.

Other analysts have also issued reports about the company. Mizuho assumed coverage on Cartesian Therapeutics in a report on Friday, May 24th. They issued a “buy” rating and a $40.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Cartesian Therapeutics in a report on Monday. Leerink Partnrs reissued an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. SVB Leerink assumed coverage on Cartesian Therapeutics in a report on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 price objective on the stock. Finally, Oppenheimer lowered Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.83.

Cartesian Therapeutics Stock Up 11.7 %

Cartesian Therapeutics stock opened at $17.62 on Wednesday. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60. The business’s 50-day moving average price is $25.93 and its 200 day moving average price is $22.38.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its 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 company had revenue of $5.84 million during the quarter. Sell-side analysts forecast that Cartesian Therapeutics will post 2.28 EPS for the current fiscal year.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors have recently made changes to their positions in RNAC. SG Americas Securities LLC acquired a new stake in shares of Cartesian Therapeutics in the first quarter worth approximately $31,000. Hall Laurie J Trustee purchased a new position in Cartesian Therapeutics during the first quarter worth approximately $34,000. American International Group Inc. purchased a new position in Cartesian Therapeutics during the first quarter worth approximately $37,000. BNP Paribas Financial Markets purchased a new position in Cartesian Therapeutics during the first quarter worth approximately $38,000. Finally, Delphi Financial Group Inc. purchased a new position in Cartesian Therapeutics during the first quarter worth approximately $430,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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.