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

Cartesian Therapeutics (NASDAQ:RNAC) had its price target raised by research analysts at HC Wainwright from $2.00 to $54.00 in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 195.73% from the stock’s previous close.

Other analysts also recently issued reports about the company. Needham & Company LLC assumed coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They set a “buy” rating and a $42.00 price target for the company. SVB Leerink initiated coverage on Cartesian Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $39.00 target price for the company.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $18.26 on Tuesday. The stock’s fifty day moving average is $19.33. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $42.60.

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

Insider Activity at Cartesian Therapeutics

In other news, Director Timothy A. Springer acquired 21,612 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the acquisition, the director now owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 22,472 shares of company stock valued at $365,981 over the last ninety days. Insiders own 31.20% 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.