Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $42.14.

Several equities analysts have weighed in on the company. BTIG Research initiated coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price for the company. HC Wainwright dropped their price objective on shares of Cartesian Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a report on Thursday, March 13th.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Cartesian Therapeutics by 22.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after buying an additional 847 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after acquiring an additional 909 shares in the last quarter. Rhumbline Advisers lifted its stake in Cartesian Therapeutics by 10.0% during the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock worth $183,000 after purchasing an additional 927 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in Cartesian Therapeutics by 32.6% in the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock valued at $92,000 after purchasing an additional 1,258 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cartesian Therapeutics by 44.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock valued at $104,000 after purchasing an additional 1,789 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Cartesian Therapeutics Trading Down 19.0 %

Shares of NASDAQ RNAC opened at $10.00 on Monday. The stock has a market capitalization of $259.07 million, a PE ratio of -0.19 and a beta of 0.55. Cartesian Therapeutics has a twelve month low of $9.12 and a twelve month high of $41.87. The stock has a fifty day simple moving average of $17.32 and a 200-day simple moving average of $18.71.

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.