Cartesian Therapeutics’ (RNAC) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a report released on Tuesday,Benzinga reports. They currently have a $45.00 price objective on the stock.

Several other equities analysts have also recently weighed in on RNAC. BTIG Research started coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Monday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $42.86.

Cartesian Therapeutics Trading Up 0.8 %

NASDAQ:RNAC opened at $19.38 on Tuesday. The firm has a market capitalization of $492.64 million, a PE ratio of -0.37 and a beta of 0.56. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $41.87. The firm’s fifty day simple moving average is $19.15 and its 200 day simple moving average is $17.98.

Insider Activity

In related news, CFO Blaine Davis sold 3,961 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total transaction of $66,227.92. Following the completion of the transaction, the chief financial officer now owns 98,839 shares in the company, valued at $1,652,588.08. This trade represents a 3.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Metin Kurtoglu sold 25,900 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $16.44, for a total value of $425,796.00. Following the completion of the sale, the chief technology officer now directly owns 51,033 shares in the company, valued at approximately $838,982.52. This represents a 33.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,833 shares of company stock worth $2,416,892. Corporate insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new stake in shares of Cartesian Therapeutics in the 2nd quarter worth about $811,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Cartesian Therapeutics during the second quarter worth approximately $351,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cartesian Therapeutics in the second quarter valued at approximately $49,000. Logos Global Management LP bought a new position in shares of Cartesian Therapeutics in the second quarter valued at approximately $2,431,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Cartesian Therapeutics in the 2nd quarter worth approximately $47,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.