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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Get Free Report) have earned an average rating of "Moderate Buy" from the ten analysts that are presently covering the stock, 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 12-month price target among brokers that have issued a report on the stock in the last year is $42.86.

RNAC has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Monday, January 27th. Cantor Fitzgerald upgraded Cartesian Therapeutics to a "hold" rating in a research report on Monday, December 2nd. BTIG Research initiated coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a "buy" rating and a $42.00 price target for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $45.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, January 28th.

Insider Activity

In other Cartesian Therapeutics news, CFO Blaine Davis sold 3,961 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $66,227.92. Following the transaction, the chief financial officer now owns 98,839 shares in the company, valued at $1,652,588.08. The trade was a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Metin Kurtoglu sold 2,417 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $40,412.24. Following the completion of the transaction, the chief technology officer now owns 64,716 shares in the company, valued at $1,082,051.52. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,833 shares of company stock worth $2,416,892 over the last 90 days. 57.90% of the stock is currently owned by company insiders.

Institutional Trading of Cartesian Therapeutics

Several large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 valued at $82,000 after acquiring an additional 847 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company's stock valued at $27,000 after buying an additional 909 shares during the last quarter. Rhumbline Advisers boosted its position in Cartesian Therapeutics by 10.0% in the 4th quarter. Rhumbline Advisers now owns 10,201 shares of the company's stock valued at $183,000 after buying an additional 927 shares during the last quarter. Corebridge Financial Inc. boosted its position in Cartesian Therapeutics by 32.6% in the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company's stock valued at $92,000 after buying an additional 1,258 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Cartesian Therapeutics by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company's stock worth $4,981,000 after purchasing an additional 2,688 shares during the last quarter. Institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Stock Up 2.2 %

Shares of NASDAQ RNAC traded up $0.40 during mid-day trading on Friday, hitting $18.92. 44,383 shares of the company were exchanged, compared to its average volume of 80,003. The stock has a 50 day simple moving average of $19.24 and a 200-day simple moving average of $18.11. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $41.87. The firm has a market cap of $480.95 million, a price-to-earnings ratio of -0.36 and a beta of 0.61.

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.