Brokerages Set Cartesian Therapeutics, Inc. (NASDAQ:RNAC) PT at $42.14

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten analysts that are covering the company, MarketBeat.com reports. Two research 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 issued a report on the stock in the last year is $42.14.

A number of analysts recently issued reports on the stock. HC Wainwright dropped their price target on shares of Cartesian Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Needham & Company LLC restated a "buy" rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research report on Thursday, March 13th. Finally, BTIG Research began coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a "buy" rating and a $42.00 price target for the company.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC traded down $2.34 during trading hours on Monday, reaching $10.00. The company had a trading volume of 340,911 shares, compared to its average volume of 117,311. The firm has a market cap of $259.07 million, a PE ratio of -0.19 and a beta of 0.55. Cartesian Therapeutics has a 1-year low of $9.19 and a 1-year high of $41.87. The business's 50 day moving average price is $17.32 and its 200-day moving average price is $18.67.

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Insider Activity at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $41,368.14. Following the sale, the chief technology officer now owns 62,258 shares of the company's stock, valued at $1,047,802.14. The trade was a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blaine Davis sold 4,028 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $67,791.24. Following the completion of the sale, the chief financial officer now owns 94,811 shares of the company's stock, valued at $1,595,669.13. This trade represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,434 shares of company stock valued at $125,114. 57.90% of the stock is owned by corporate insiders.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Cartesian Therapeutics by 458.3% in the third quarter. FMR LLC now owns 2,851,830 shares of the company's stock valued at $45,972,000 after purchasing an additional 2,341,054 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 during the period. State Street Corp grew its holdings in shares of Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company's stock valued at $2,539,000 after purchasing an additional 3,830 shares during the period. Barclays PLC increased its position in Cartesian Therapeutics by 208.6% during the third 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, Geode Capital Management LLC raised its stake in Cartesian Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company's stock worth $2,188,000 after purchasing an additional 2,737 shares during the period. Institutional investors and hedge funds own 86.95% of the company's stock.

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.