Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Target Price at $43.00

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $43.00.

Several research firms have recently commented on RNAC. TD Cowen began coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They set a “buy” rating for the company. HC Wainwright restated a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a report on Friday, September 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a report on Wednesday, October 16th.

Cartesian Therapeutics Trading Up 3.6 %

Shares of RNAC stock opened at $19.80 on Friday. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $42.60. The stock has a 50 day simple moving average of $18.46 and a two-hundred day simple moving average of $20.36.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of ($0.81) by $1.35. The firm had revenue of $33.45 million for the quarter, compared to the consensus estimate of $6.00 million. On average, analysts forecast that Cartesian Therapeutics will post 3.99 earnings per share for the current year.

Insider Activity at Cartesian Therapeutics

In related news, Director Timothy A. Springer bought 8,016 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $12.72 per share, with a total value of $101,963.52. Following the completion of the transaction, the director now directly owns 11,509 shares in the company, valued at approximately $146,394.48. This represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Timothy A. Springer bought 8,016 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $12.72 per share, with a total value of $101,963.52. Following the completion of the transaction, the director now directly owns 11,509 shares in the company, valued at approximately $146,394.48. This represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy A. Springer acquired 80,301 shares of the business’s stock in a transaction on Friday, October 4th. The stock was acquired at an average cost of $22.58 per share, for a total transaction of $1,813,196.58. Following the transaction, the director now owns 8,023,766 shares of the company’s stock, valued at approximately $181,176,636.28. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 93,831 shares of company stock valued at $2,010,993 over the last 90 days. Insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at $4,105,000. Delphi Financial Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at $430,000. Logos Global Management LP bought a new position in Cartesian Therapeutics in the 2nd quarter valued at $2,431,000. BNP Paribas Financial Markets bought a new position in Cartesian Therapeutics in the 1st quarter valued at $38,000. Finally, American International Group Inc. bought a new position in Cartesian Therapeutics in the 1st quarter valued at $37,000. Institutional investors own 86.95% of the company’s stock.

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.