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

Cartesian Therapeutics (NASDAQ:RNAC) had its price target boosted by HC Wainwright from $2.00 to $54.00 in a research report report published on Tuesday, MarketBeat reports. They currently have 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.

RNAC has been the subject of a number of other research reports. SVB Leerink assumed coverage on Cartesian Therapeutics in a research report on Tuesday. They issued an outperform rating and a $39.00 target price for the company. Needham & Company LLC began coverage on Cartesian Therapeutics in a research note on Tuesday, April 9th. They issued a buy rating and a $42.00 price target on the stock.

Cartesian Therapeutics Stock Up 0.6 %

NASDAQ:RNAC opened at $21.03 on Tuesday. The stock has a 50 day moving average price of $19.20. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $42.60.

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 analysts’ consensus estimates of ($0.30) by ($2.10). The firm 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%. On average, equities analysts forecast that Cartesian Therapeutics will post -3.21 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Timothy A. Springer purchased 21,612 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $16.20 per share, with a total value of $350,114.40. Following the purchase, the director now directly owns 1,017,228 shares of the company’s stock, valued at $16,479,093.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased 22,472 shares of company stock valued at $365,981 in the last ninety days. Company insiders own 31.20% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

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