Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $42.86 Consensus Target Price from Brokerages

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $42.86.

Several research firms have recently weighed in on RNAC. BTIG Research assumed coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $45.00 target price (up from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd.

Cartesian Therapeutics Stock Performance

RNAC opened at $18.47 on Friday. The company’s 50-day simple moving average is $20.01 and its two-hundred day simple moving average is $18.72. The stock has a market capitalization of $469.42 million, a P/E ratio of -0.35 and a beta of 0.60. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $41.87.

Insider Transactions at Cartesian Therapeutics

In related news, insider Milos Miljkovic sold 35,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the transaction, the insider now owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. This represents a 65.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy A. Springer purchased 5,514 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average cost of $17.38 per share, for a total transaction of $95,833.32. Following the completion of the acquisition, the director now owns 7,823,559 shares of the company’s stock, valued at approximately $135,973,455.42. This trade represents a 0.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 128,089 shares of company stock valued at $2,169,555 over the last quarter. 57.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after buying an additional 909 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Cartesian Therapeutics during the second quarter worth $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cartesian Therapeutics during the second quarter worth $49,000. Barclays PLC grew its stake in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after acquiring an additional 7,849 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Cartesian Therapeutics in the 2nd quarter valued at $351,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

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.