Cartesian Therapeutics (NASDAQ:RNAC) Price Target Raised to $43.00 at Canaccord Genuity Group

Cartesian Therapeutics (NASDAQ:RNAC) had its price target hoisted by research analysts at Canaccord Genuity Group from $38.00 to $43.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 144.04% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Oppenheimer downgraded shares of Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday. Mizuho began coverage on shares of Cartesian Therapeutics in a report on Friday, May 24th. They set a “buy” rating and a $40.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. HC Wainwright reiterated a “buy” rating and issued a $54.00 target price on shares of Cartesian Therapeutics in a report on Monday, June 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Cartesian Therapeutics in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC opened at $17.62 on Wednesday. The firm has a fifty day moving average of $25.93 and a two-hundred day moving average of $22.38. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results 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 business had revenue of $5.84 million for the quarter. On average, equities analysts predict that Cartesian Therapeutics will post 2.28 EPS for the current year.

Institutional Trading of Cartesian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in Cartesian Therapeutics in the 1st quarter worth $4,105,000. American International Group Inc. acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at about $31,000. Artal Group S.A. acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at about $5,939,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at about $38,000. 86.95% of the stock is currently 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.