HC Wainwright Boosts Cartesian Therapeutics (NASDAQ:RNAC) Price Target to $54.00

Cartesian Therapeutics (NASDAQ:RNAC) had its price objective increased by equities researchers at HC Wainwright from $2.00 to $54.00 in a research note issued on Tuesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 160.62% from the company’s current price. HC Wainwright also issued estimates for Cartesian Therapeutics’ Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.52) EPS and Q4 2025 earnings at ($0.58) EPS.

Several other research analysts also recently issued reports on the stock. Needham & Company LLC initiated 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 initiated coverage on Cartesian Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $39.00 price objective for the company.

Cartesian Therapeutics Trading Up 0.6 %

Shares of RNAC opened at $20.72 on Tuesday. The business’s 50 day simple moving average is $19.29. 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 released 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). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%. The firm had revenue of $8.27 million for the quarter. On average, research analysts forecast that Cartesian Therapeutics will post -1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Timothy A. Springer purchased 21,612 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $16.20 per share, with a total value of $350,114.40. Following the completion of the acquisition, the director now directly owns 1,017,228 shares in the company, valued at $16,479,093.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased a total of 22,472 shares of company stock valued at $365,981 over the last three months. 31.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cartesian Therapeutics

An institutional investor recently bought a new position in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission. 86.95% of the stock is owned by institutional investors and hedge funds.

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.