Cartesian Therapeutics (NASDAQ:RNAC) Stock Rating Lowered by Oppenheimer

Oppenheimer downgraded shares of Cartesian Therapeutics (NASDAQ:RNAC) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, Marketbeat reports.

A number of other analysts have also recently commented on RNAC. Leerink Partnrs reaffirmed an outperform rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. Mizuho began coverage on Cartesian Therapeutics in a research note on Friday, May 24th. They issued a buy rating and a $40.00 price target for the company. Needham & Company LLC reaffirmed a buy rating and issued a $42.00 price target on shares of Cartesian Therapeutics in a research note on Monday, July 1st. SVB Leerink began coverage on Cartesian Therapeutics in a research note on Tuesday, April 23rd. They issued an outperform rating and a $39.00 price target for the company. Finally, HC Wainwright reissued a buy rating and set a $54.00 target price on shares of Cartesian Therapeutics in a research note on Monday, June 17th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $43.83.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $16.97 on Tuesday. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The company’s 50-day moving average is $25.85 and its two-hundred day moving average is $22.35.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($1.16). The firm had revenue of $5.84 million during the quarter. As a group, equities analysts expect that Cartesian Therapeutics will post 2.28 earnings per share for the current year.

Institutional Trading of Cartesian Therapeutics

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Cartesian Therapeutics during the 1st quarter worth approximately $31,000. Hall Laurie J Trustee acquired a new stake in shares of Cartesian Therapeutics in the first quarter valued at approximately $34,000. American International Group Inc. acquired a new stake in shares of Cartesian Therapeutics in the first quarter valued at approximately $37,000. BNP Paribas Financial Markets bought a new stake in shares of Cartesian Therapeutics in the first quarter worth $38,000. Finally, Delphi Financial Group Inc. acquired a new position in Cartesian Therapeutics during the first quarter worth $430,000. 86.95% of the stock is owned by institutional investors.

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.