Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $42.86

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $42.86.

Several analysts have recently weighed in on RNAC shares. Needham & Company LLC reissued a "buy" rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, December 3rd. BTIG Research started coverage on Cartesian Therapeutics in a research report on Thursday. They set a "buy" rating and a $42.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $45.00 price objective (up from $41.00) on shares of Cartesian Therapeutics in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics to a "hold" rating in a report on Monday, December 2nd.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 25,900 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $838,982.52. This represents a 33.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy A. Springer purchased 5,514 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $17.38 per share, with a total value of $95,833.32. Following the purchase, the director now owns 7,823,559 shares of the company's stock, valued at approximately $135,973,455.42. The trade was a 0.07 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 128,089 shares of company stock valued at $2,169,555 over the last quarter. Company insiders own 57.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RNAC. BNP Paribas Financial Markets increased its stake in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company's stock valued at $27,000 after purchasing an additional 909 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cartesian Therapeutics during the 2nd quarter valued at about $49,000. Barclays PLC grew its position in Cartesian Therapeutics by 208.6% in 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. Finally, Cubist Systematic Strategies LLC bought a new position in Cartesian Therapeutics in the 2nd quarter worth about $351,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Cartesian Therapeutics Trading Down 1.3 %

RNAC stock traded down $0.25 during trading on Friday, hitting $19.02. 778,468 shares of the company's stock were exchanged, compared to its average volume of 101,223. The business has a 50-day moving average price of $20.10 and a two-hundred day moving average price of $19.08. The stock has a market capitalization of $483.39 million, a price-to-earnings ratio of -0.36 and a beta of 0.59. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $41.87.

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.