Cartesian Therapeutics price target lowered to $49 from $54 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Cartesian Therapeutics to $49 from $54 and keeps a Buy rating on the shares. The data for Descartes-08 in myasthenia gravis demonstrate clinically meaningful benefit, the analyst tells investors in a research note. The firm feels confident that the profile of Descartes-08 is likely to support approval in a Phase 3 trial, but would like to see continued durability at the month six mark in the Phase 2b study to become incrementally more positive on the opportunity to replicate data from the Phase 2a trial.