Cartesian Therapeutics (NASDAQ:RNAC) Now Covered by Analysts at SVB Leerink

SVB Leerink began coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note issued on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating and a $39.00 price target on the stock. SVB Leerink’s target price would suggest a potential upside of 113.58% from the company’s current price.

Several other brokerages have also recently commented on RNAC. Needham & Company LLC started coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 9th. They issued a “buy” rating and a $42.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Cartesian Therapeutics in a report on Monday, March 18th.

Cartesian Therapeutics Stock Up 2.0 %

RNAC opened at $18.26 on Tuesday. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60. The stock’s fifty day moving average price is $19.33.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($2.10). The firm 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 predict that Cartesian Therapeutics will post -1.5 earnings per share for the current fiscal year.

Insider Activity at Cartesian Therapeutics

In other news, Director Timothy A. Springer purchased 21,612 shares of the stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the acquisition, the director now directly owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 22,472 shares of company stock valued at $365,981 over the last 90 days. 31.20% of the stock is owned by corporate insiders.

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.