Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Receives $42.86 Consensus PT from Brokerages

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

Several analysts have recently issued reports on RNAC shares. HC Wainwright reiterated a "buy" rating and issued a $45.00 target price (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday, December 4th. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They issued a "buy" rating and a $42.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a report on Monday. Finally, Cantor Fitzgerald raised Cartesian Therapeutics to a "hold" rating in a research report on Monday, December 2nd.

Insiders Place Their Bets

In other news, CFO Blaine Davis sold 4,028 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $67,791.24. Following the sale, the chief financial officer now owns 94,811 shares of the company's stock, valued at approximately $1,595,669.13. The trade was a 4.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Metin Kurtoglu sold 34,400 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $18.39, for a total transaction of $632,616.00. Following the transaction, the chief technology officer now owns 51,033 shares of the company's stock, valued at approximately $938,496.87. This trade represents a 40.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,833 shares of company stock valued at $2,416,892 in the last quarter. Insiders own 57.90% of the company's stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake 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 valued at $27,000 after buying an additional 909 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Cartesian Therapeutics in the second quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cartesian Therapeutics in the 2nd quarter worth $49,000. Barclays PLC increased its stake in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company's stock valued at $188,000 after acquiring an additional 7,849 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cartesian Therapeutics in the second quarter valued at $351,000. Institutional investors and hedge funds own 86.95% of the company's stock.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ RNAC traded up $0.93 during mid-day trading on Wednesday, hitting $18.95. The stock had a trading volume of 69,192 shares, compared to its average volume of 112,475. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $41.87. The firm has a market cap of $481.61 million, a PE ratio of -0.36 and a beta of 0.56. The company has a 50 day moving average of $18.97 and a two-hundred day moving average of $17.87.

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.