Cartesian Therapeutics (NASDAQ:RNAC) Given “Buy” Rating at Needham & Company LLC

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $41.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 330.67% from the stock’s previous close.

RNAC has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a report on Wednesday. BTIG Research assumed coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

Cartesian Therapeutics Trading Down 5.8 %

NASDAQ:RNAC opened at $9.52 on Wednesday. Cartesian Therapeutics has a 12 month low of $5.00 and a 12 month high of $41.87. The firm’s 50 day moving average is $16.73 and its 200 day moving average is $18.55. The stock has a market capitalization of $246.63 million, a PE ratio of -0.18 and a beta of 0.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RNAC. BNP Paribas Financial Markets boosted its stake in shares of Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares in the last quarter. State Street Corp lifted its stake in Cartesian Therapeutics by 2.5% in the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after purchasing an additional 3,830 shares during the last quarter. Barclays PLC boosted its position in Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares during the period. Geode Capital Management LLC boosted its position in Cartesian Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company’s stock valued at $2,188,000 after buying an additional 2,737 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cartesian Therapeutics by 40.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,803 shares of the company’s stock valued at $480,000 after buying an additional 7,755 shares during the last quarter. 86.95% of the stock is currently owned by 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.