Cartesian Therapeutics (NASDAQ:RNAC) Earns Outperform Rating from Analysts at SVB Leerink

SVB Leerink initiated coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research report sent to investors on Tuesday, Marketbeat.com reports. The firm issued an outperform rating and a $39.00 target price on the stock.

Several other research firms have also commented on RNAC. HC Wainwright restated a buy rating and set a $60.00 price target on shares of Cartesian Therapeutics in a research report on Monday, March 18th. Needham & Company LLC started coverage on shares of Cartesian Therapeutics in a report on Tuesday, April 9th. They issued a buy rating and a $42.00 price objective for the company.

Cartesian Therapeutics Price Performance

RNAC stock opened at $21.03 on Tuesday. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $42.60. The company’s fifty day simple moving average is $19.20.

Cartesian Therapeutics (NASDAQ:RNAC) last released its earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($2.10). The business had revenue of $8.27 million for the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. Equities research analysts predict that Cartesian Therapeutics will post -3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Cartesian Therapeutics

In related news, Director Timothy A. Springer acquired 21,612 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the acquisition, the director now owns 1,017,228 shares in the company, valued at $16,479,093.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders acquired 22,472 shares of company stock valued at $365,981. 31.20% of the stock is owned by insiders.

Institutional Trading of Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee acquired a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned 0.98% of Cartesian Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds 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.