Cartesian Therapeutics (NASDAQ:RNAC) Earns Outperform Rating from Analysts at SVB Leerink

SVB Leerink began coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report released on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $39.00 price target on the stock.

RNAC has been the topic of a number of other reports. HC Wainwright reissued a buy rating and set a $60.00 price target on shares of Cartesian Therapeutics in a report on Monday, March 18th. Needham & Company LLC initiated coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They issued a buy rating and a $42.00 target price on the stock.

Cartesian Therapeutics Price Performance

RNAC stock opened at $21.03 on Tuesday. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $42.60. The company’s 50 day moving average is $19.20.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($0.30) by ($2.10). The business had revenue of $8.27 million for the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. Equities research analysts forecast that Cartesian Therapeutics will post -3.21 earnings per share for the current fiscal year.

Insider Transactions at Cartesian Therapeutics

In related news, Director Timothy A. Springer acquired 21,612 shares of Cartesian Therapeutics stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, the director now directly owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have bought 22,472 shares of company stock valued at $365,981. 31.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned about 0.98% of Cartesian Therapeutics at the end of the most recent reporting period. 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.