Cartesian Therapeutics (NASDAQ:RNAC) Stock Rating Reaffirmed by HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $54.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 147.03% from the company’s previous close.

RNAC has been the topic of several other reports. SVB Leerink began coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. They issued an “outperform” rating and a $39.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd.

Cartesian Therapeutics Stock Down 6.0 %

Shares of NASDAQ:RNAC traded down $1.39 during trading on Thursday, reaching $21.86. 44,221 shares of the company’s stock traded hands, compared to its average volume of 50,750. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $42.60. The company’s 50 day moving average is $19.44.

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

Insider Transactions at Cartesian Therapeutics

In other news, Director Timothy A. Springer bought 21,612 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $16.20 per share, with a total value 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 legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 22,446 shares of company stock valued at $365,474 in the last ninety days. 31.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RNAC. SG Americas Securities LLC acquired a new stake in shares of Cartesian Therapeutics during the first quarter worth $31,000. Hall Laurie J Trustee bought a new position in Cartesian Therapeutics during the first quarter worth about $34,000. BNP Paribas Financial Markets acquired a new stake in Cartesian Therapeutics in the 1st quarter worth about $38,000. Finally, Delphi Financial Group Inc. bought a new stake in Cartesian Therapeutics in the 1st quarter valued at about $430,000. Institutional investors and hedge funds 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.