Cartesian Therapeutics (NASDAQ:RNAC) Now Covered by Analysts at SVB Leerink

Equities researchers at SVB Leerink started coverage on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $39.00 price target on the stock. SVB Leerink’s target price suggests a potential upside of 88.22% from the stock’s current price.

RNAC has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of Cartesian Therapeutics in a report on Monday, March 18th. Needham & Company LLC began coverage on Cartesian Therapeutics in a research report on Tuesday, April 9th. They set a “buy” rating and a $42.00 price target on the stock.

Cartesian Therapeutics Stock Up 0.6 %

NASDAQ RNAC opened at $20.72 on Tuesday. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $42.60. The business’s 50-day simple moving average is $19.29.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($0.30) by ($2.10). The firm had revenue of $8.27 million during the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. As a group, analysts expect that Cartesian Therapeutics will post -1.5 EPS for the current year.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, Director Timothy A. Springer acquired 21,612 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the purchase, the director now owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 22,472 shares of company stock worth $365,981 in the last three months. Insiders own 31.20% of the company’s stock.

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) in the first quarter, according to the company in its most recent 13F filing with the Securities & 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 as of its most recent SEC filing. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

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.