Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $42.86.

RNAC has been the subject of several recent analyst reports. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research note on Monday, January 27th.

Cartesian Therapeutics Trading Down 3.2 %

Shares of NASDAQ:RNAC opened at $17.48 on Thursday. The company has a market cap of $444.25 million, a price-to-earnings ratio of -0.33 and a beta of 0.71. The company has a 50-day moving average price of $18.60 and a 200-day moving average price of $18.70. Cartesian Therapeutics has a 12 month low of $11.67 and a 12 month high of $41.87.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 2,417 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $40,412.24. Following the completion of the transaction, the chief technology officer now owns 64,716 shares of the company’s stock, valued at approximately $1,082,051.52. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blaine Davis sold 4,028 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $67,791.24. Following the transaction, the chief financial officer now directly owns 94,811 shares of the company’s stock, valued at $1,595,669.13. This represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,744 shares of company stock valued at $247,337. Corporate insiders own 57.90% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of Cartesian Therapeutics by 458.3% during the third quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after acquiring an additional 2,341,054 shares in the last quarter. Great Point Partners LLC bought a new stake in shares of Cartesian Therapeutics during the third quarter valued at approximately $3,224,000. MPM Bioimpact LLC increased its position in shares of Cartesian Therapeutics by 14.6% during the fourth quarter. MPM Bioimpact LLC now owns 721,139 shares of the company’s stock valued at $12,916,000 after acquiring an additional 91,716 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cartesian Therapeutics by 63.0% during the fourth quarter. Geode Capital Management LLC now owns 221,257 shares of the company’s stock valued at $3,963,000 after acquiring an additional 85,557 shares in the last quarter. Finally, 683 Capital Management LLC increased its position in shares of Cartesian Therapeutics by 65.7% during the fourth quarter. 683 Capital Management LLC now owns 125,000 shares of the company’s stock valued at $2,239,000 after acquiring an additional 49,569 shares in the last quarter. Institutional investors 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.