Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $42.67.

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. HC Wainwright restated a "buy" rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th.

Institutional Trading of Cartesian Therapeutics

A number of hedge funds have recently bought and sold shares of RNAC. Virtus ETF Advisers LLC purchased a new position in shares of Cartesian Therapeutics in the fourth quarter worth approximately $63,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cartesian Therapeutics by 22.8% in 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. Wells Fargo & Company MN raised its holdings in Cartesian Therapeutics by 112.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,847 shares of the company's stock worth $87,000 after purchasing an additional 2,568 shares during the period. Corebridge Financial Inc. lifted its position in Cartesian Therapeutics by 32.6% during the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock valued at $92,000 after purchasing an additional 1,258 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Cartesian Therapeutics in the fourth quarter worth about $97,000. Hedge funds and other institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Price Performance

NASDAQ RNAC traded down $0.22 during trading hours on Friday, reaching $11.83. 45,578 shares of the company's stock traded hands, compared to its average volume of 116,412. The firm has a market cap of $306.48 million, a PE ratio of -0.22 and a beta of 0.55. Cartesian Therapeutics has a 52-week low of $8.85 and a 52-week high of $41.87. The firm has a 50-day simple moving average of $14.52 and a 200 day simple moving average of $17.78.

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.