Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $42.33

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $42.33.

A number of equities analysts have issued reports on the company. TD Cowen initiated coverage on Cartesian Therapeutics in a report on Tuesday, August 6th. They issued a “buy” rating for the company. HC Wainwright lowered their price target on shares of Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a report on Monday, November 25th.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 25,900 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.44, for a total value of $425,796.00. Following the completion of the transaction, the chief technology officer now owns 51,033 shares of the company’s stock, valued at approximately $838,982.52. The trade was a 33.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Milos Miljkovic sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $16.13, for a total transaction of $564,550.00. Following the sale, the insider now directly owns 18,273 shares in the company, valued at approximately $294,743.49. The trade was a 65.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,089 shares of company stock worth $2,169,555. Corporate insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RNAC. BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics during the 1st quarter valued at $38,000. SG Americas Securities LLC purchased a new stake in Cartesian Therapeutics during the first quarter valued at $31,000. Vanguard Group Inc. bought a new position in Cartesian Therapeutics in the first quarter valued at about $4,105,000. American International Group Inc. purchased a new position in Cartesian Therapeutics in the first quarter worth about $37,000. Finally, Artal Group S.A. bought a new stake in shares of Cartesian Therapeutics during the 1st quarter valued at about $5,939,000. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Stock Performance

RNAC stock opened at $18.83 on Tuesday. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $41.87. The company has a market capitalization of $478.56 million, a price-to-earnings ratio of -0.36 and a beta of 0.63. The business’s 50 day moving average price is $19.71 and its two-hundred day moving average price is $19.87.

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.