Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $42.86 Average PT from Brokerages

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $42.86.

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, January 28th. BTIG Research began coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Monday, January 27th.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, insider Milos Miljkovic sold 35,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the sale, the insider now directly owns 18,273 shares in the company, valued at approximately $294,743.49. This represents a 65.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Metin Kurtoglu sold 25,900 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $16.44, for a total value of $425,796.00. Following the transaction, the chief technology officer now directly owns 51,033 shares in the company, valued at $838,982.52. The trade was a 33.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,833 shares of company stock valued at $2,416,892 in the last three months. Company insiders own 57.90% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

Large investors have recently modified their holdings of the business. FMR LLC increased its holdings in Cartesian Therapeutics by 458.3% during the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after buying an additional 2,341,054 shares during the period. BNP Paribas Financial Markets boosted its position 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 acquiring an additional 909 shares in the last quarter. State Street Corp increased its holdings in shares of Cartesian Therapeutics by 2.5% in the 3rd quarter. State Street Corp now owns 157,495 shares of the company’s stock valued at $2,539,000 after acquiring an additional 3,830 shares during the period. Great Point Partners LLC bought a new position in shares of Cartesian Therapeutics in the 3rd quarter worth $3,224,000. Finally, Barclays PLC lifted its stake in shares of Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after purchasing an additional 7,849 shares during the last quarter. Institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Price Performance

Shares of RNAC stock opened at $18.52 on Friday. The company has a market cap of $470.78 million, a PE ratio of -0.35 and a beta of 0.61. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $41.87. The stock’s 50 day simple moving average is $19.27 and its two-hundred day simple moving average is $18.10.

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.