Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $42.86.
A number of brokerages have recently commented on RNAC. BTIG Research began coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They issued a "buy" rating and a $42.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, January 28th. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a "hold" rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Monday, January 27th.
Check Out Our Latest Stock Report on Cartesian Therapeutics
Insider Buying and Selling at Cartesian Therapeutics
In other Cartesian Therapeutics news, CFO Blaine Davis sold 3,961 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $66,227.92. Following the transaction, the chief financial officer now directly owns 98,839 shares of the company's stock, valued at approximately $1,652,588.08. The trade was a 3.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Metin Kurtoglu sold 2,417 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total transaction of $40,412.24. Following the sale, the chief technology officer now owns 64,716 shares in the company, valued at $1,082,051.52. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,744 shares of company stock valued at $247,337. 57.90% of the stock is owned by company insiders.
Institutional Investors Weigh In On Cartesian Therapeutics
Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cartesian Therapeutics by 22.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company's stock worth $82,000 after purchasing an additional 847 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company's stock worth $27,000 after buying an additional 909 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Cartesian Therapeutics by 10.0% in the 4th quarter. Rhumbline Advisers now owns 10,201 shares of the company's stock worth $183,000 after buying an additional 927 shares in the last quarter. Corebridge Financial Inc. boosted its position in shares of Cartesian Therapeutics by 32.6% in the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock worth $92,000 after buying an additional 1,258 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cartesian Therapeutics by 44.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company's stock worth $104,000 after buying an additional 1,789 shares in the last quarter. 86.95% of the stock is currently owned by hedge funds and other institutional investors.
Cartesian Therapeutics Trading Up 3.1 %
Shares of Cartesian Therapeutics stock traded up $0.55 during trading on Thursday, reaching $18.40. The company's stock had a trading volume of 32,758 shares, compared to its average volume of 110,609. The company has a 50-day moving average price of $18.62 and a two-hundred day moving average price of $18.62. The firm has a market cap of $467.64 million, a PE ratio of -0.35 and a beta of 0.71. Cartesian Therapeutics has a fifty-two week low of $11.67 and a fifty-two week high of $41.87.
About Cartesian Therapeutics
(
Get Free ReportCartesian 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.
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