FY2024 Earnings Estimate for RNAC Issued By Leerink Partnrs

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for shares of Cartesian Therapeutics in a research note issued to investors on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings per share of $4.85 for the year, up from their previous forecast of $3.88. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ FY2025 earnings at ($4.20) EPS, FY2026 earnings at ($4.73) EPS, FY2027 earnings at ($6.34) EPS and FY2028 earnings at ($6.55) EPS.

RNAC has been the subject of several other reports. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, January 28th. BTIG Research initiated coverage on shares of Cartesian Therapeutics in a report on Thursday, December 19th. They set a “buy” rating and a $42.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.86.

Cartesian Therapeutics Stock Up 0.1 %

Shares of NASDAQ RNAC opened at $18.52 on Monday. The business has a fifty day simple moving average of $19.27 and a 200-day simple moving average of $18.10. The company has a market cap of $470.78 million, a price-to-earnings ratio of -0.35 and a beta of 0.61. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $41.87.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RNAC. FMR LLC raised its stake in Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after purchasing an additional 2,341,054 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cartesian Therapeutics by 0.9% during the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company’s stock valued at $4,981,000 after buying an additional 2,688 shares during the last quarter. Great Point Partners LLC bought a new stake in shares of Cartesian Therapeutics in the third quarter valued at about $3,224,000. State Street Corp grew its position in Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after buying an additional 3,830 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 acquiring an additional 2,737 shares during the period. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cartesian Therapeutics

In other news, insider Milos Miljkovic sold 35,000 shares of Cartesian Therapeutics stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.13, for a total value of $564,550.00. Following the transaction, the insider now directly owns 18,273 shares in the company, valued at approximately $294,743.49. The trade was a 65.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Metin Kurtoglu sold 25,900 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $16.44, for a total value of $425,796.00. Following the sale, the chief technology officer now owns 51,033 shares of the company’s stock, valued at approximately $838,982.52. The trade was a 33.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,833 shares of company stock worth $2,416,892 in the last 90 days. 57.90% of the stock is owned by insiders.

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.