Cartesian Therapeutics (NASDAQ:RNAC) Price Target Cut to $40.00 by Analysts at HC Wainwright

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective cut by HC Wainwright from $45.00 to $40.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on the stock. BTIG Research assumed coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research note on Thursday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.14.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $15.80 on Friday. The company’s 50 day simple moving average is $18.57 and its 200-day simple moving average is $18.70. The company has a market capitalization of $401.56 million, a price-to-earnings ratio of -0.30 and a beta of 0.71. Cartesian Therapeutics has a 1 year low of $11.67 and a 1 year high of $41.87.

Insiders Place Their Bets

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 2,458 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 transaction of $41,368.14. Following the completion of the transaction, the chief technology officer now owns 62,258 shares in the company, valued at $1,047,802.14. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Blaine Davis sold 3,961 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 transaction of $66,227.92. Following the transaction, the chief financial officer now owns 98,839 shares of the company’s stock, valued at $1,652,588.08. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,744 shares of company stock worth $247,337 in the last 90 days. Corporate insiders own 57.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. MPM Bioimpact LLC boosted its holdings in shares of Cartesian Therapeutics by 14.6% in the 4th quarter. MPM Bioimpact LLC now owns 721,139 shares of the company’s stock valued at $12,916,000 after buying an additional 91,716 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Cartesian Therapeutics by 197.8% in the 4th quarter. Nuveen Asset Management LLC now owns 72,099 shares of the company’s stock valued at $1,291,000 after buying an additional 47,889 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Cartesian Therapeutics by 44.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock valued at $104,000 after buying an additional 1,789 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Cartesian Therapeutics by 54.4% in the 4th quarter. Bank of America Corp DE now owns 11,690 shares of the company’s stock valued at $209,000 after buying an additional 4,120 shares in the last quarter. Finally, 683 Capital Management LLC boosted its holdings in shares of Cartesian Therapeutics by 65.7% in the 4th quarter. 683 Capital Management LLC now owns 125,000 shares of the company’s stock valued at $2,239,000 after buying an additional 49,569 shares in the last 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.