Cartesian Therapeutics, Inc. Expected to Post Q1 2024 Earnings of ($0.27) Per Share (NASDAQ:RNAC)

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Stock analysts at HC Wainwright increased their Q1 2024 earnings estimates for Cartesian Therapeutics in a research report issued on Tuesday, April 23rd. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings per share of ($0.27) for the quarter, up from their previous forecast of ($0.30). HC Wainwright has a “Buy” rating and a $54.00 price objective on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is ($3.21) per share. HC Wainwright also issued estimates for Cartesian Therapeutics’ Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.38) EPS and FY2025 earnings at ($2.05) EPS.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($2.10). The company had revenue of $8.27 million for the quarter. Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%.

Several other brokerages have also weighed in on RNAC. Needham & Company LLC began coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 9th. They set a “buy” rating and a $42.00 target price for the company. SVB Leerink assumed coverage on shares of Cartesian Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $39.00 target price for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday.

Cartesian Therapeutics Stock Up 0.6 %

Shares of RNAC stock opened at $21.03 on Thursday. The stock’s 50-day moving average is $19.20. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $42.60.

Insider Activity

In other Cartesian Therapeutics news, Director Timothy A. Springer acquired 21,612 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, the director now owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders acquired 22,472 shares of company stock valued at $365,981. 31.20% of the stock is currently owned by company insiders.

Institutional Trading of 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) during the 1st quarter, according to the company in its most recent disclosure 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 approximately 0.98% of Cartesian Therapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.