Buy Rating Affirmed for Cartesian Therapeutics on Strong Clinical Progress and Strategic Expansion

In a report released on May 8, Thomas Smith from Leerink Partners reiterated a Buy rating on Cartesian Therapeutics (RNAC – Research Report), with a price target of $39.00.

Thomas Smith has given his Buy rating due to a combination of factors that signal strong potential for Cartesian Therapeutics. The firm’s lead asset, Descartes-08, is making significant progress in clinical trials for autoimmune diseases and is expected to produce pivotal data from a Phase 2b study in myasthenia gravis (MG) by mid-2024. This data is seen as a key event that could greatly enhance the value of RNAC shares. Additionally, Cartesian Therapeutics is on schedule to begin a Phase 2 trial for systemic lupus erythematosus (SLE) and is planning further studies for Descartes-08 in other autoimmune diseases in the second half of the year.
Moreover, Smith acknowledges Cartesian Therapeutics’ expansion into a new headquarters with facilities for scalable in-house cGMP manufacturing, which is essential for both clinical and commercial drug production. The company’s innovative mRNA-based CAR-T cell therapy approach, especially with early promising results from Descartes-08 in treating MG, positions it favorably in the competitive cell therapy market for autoimmune disorders. Smith believes that the company’s unique technology and strategic potential will likely attract interest from larger pharmaceutical and biotech entities, further justifying the Buy rating.

Smith covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences, Keros Therapeutics, and Celldex. According to TipRanks, Smith has an average return of 37.0% and a 44.93% success rate on recommended stocks.

In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $54.00 price target.

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Cartesian Therapeutics (RNAC) Company Description:

Selecta Biosciences, Inc. operates as a clinical-stage biopharmaceutical company, which engages in the research and development of nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. it produces the Synthetic Vaccine Particles (SVP) platform for immune tolerance and immune stimulation. The firm proprietary pipeline includes SVP-enabled enzyme, oncology and gene therapies. The company was founded by Omid C. Farokhzad, Robert S. Langer Jr., and Ulrich von Andrian in 2007 and is headquartered in Watertown, MA.