Cartesian Therapeutics (NASDAQ:RNAC) Price Target Raised to $54.00

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective boosted by HC Wainwright from $2.00 to $54.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Cartesian Therapeutics’ Q1 2024 earnings at ($0.27) EPS, Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.38) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.52) EPS, Q4 2025 earnings at ($0.58) EPS and FY2025 earnings at ($2.05) EPS.

A number of other research analysts also recently commented on RNAC. Needham & Company LLC assumed coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 9th. They set a buy rating and a $42.00 price objective on the stock. SVB Leerink began coverage on shares of Cartesian Therapeutics in a research note on Tuesday. They issued an outperform rating and a $39.00 target price for the company.

Cartesian Therapeutics Trading Up 0.6 %

Cartesian Therapeutics stock opened at $21.03 on Tuesday. The stock has a 50 day moving average price of $19.20. Cartesian Therapeutics has a fifty-two week low of $11.66 and a fifty-two week high of $42.60.

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

Insider Transactions at Cartesian Therapeutics

In other news, Director Timothy A. Springer acquired 21,612 shares of Cartesian Therapeutics stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $16.20 per share, for a total transaction of $350,114.40. Following the completion of the purchase, the director now owns 1,017,228 shares of the company’s stock, valued at $16,479,093.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 22,472 shares of company stock worth $365,981. 31.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

An institutional investor recently bought a new position in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 reporting period. 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.