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

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.86.

Several research analysts have recently commented on the company. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, January 28th. BTIG Research assumed coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Cartesian Therapeutics in a report on Monday, January 27th.

Cartesian Therapeutics Trading Up 0.4 %

Shares of NASDAQ RNAC opened at $17.92 on Thursday. Cartesian Therapeutics has a 12 month low of $11.67 and a 12 month high of $41.87. The firm has a market capitalization of $455.44 million, a price-to-earnings ratio of -0.34 and a beta of 0.71. The business has a 50-day moving average of $18.69 and a 200-day moving average of $18.57.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 2,417 shares of the business’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 value of $40,412.24. Following the completion of the sale, the chief technology officer now owns 64,716 shares in the company, valued at approximately $1,082,051.52. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blaine Davis sold 4,028 shares of the business’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 value of $67,791.24. Following the completion of the sale, the chief financial officer now owns 94,811 shares of the company’s stock, valued at $1,595,669.13. The trade was a 4.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,744 shares of company stock worth $247,337. 57.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MPM Bioimpact LLC raised its holdings 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. Nuveen Asset Management LLC raised its holdings in shares of Cartesian Therapeutics by 197.8% during the fourth quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company’s stock valued at $1,291,000 after acquiring an additional 47,889 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cartesian Therapeutics by 44.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock valued at $104,000 after acquiring an additional 1,789 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Cartesian Therapeutics by 54.4% during the fourth quarter. Bank of America Corp DE now owns 11,690 shares of the company’s stock valued at $209,000 after acquiring an additional 4,120 shares in the last quarter. Finally, 683 Capital Management LLC raised its holdings 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.

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.