Cartesian Therapeutics (NASDAQ:RNAC) Shares to Reverse Split on Friday, April 5th

Shares of Cartesian Therapeutics, Inc. (NASDAQ:RNACFree Report) are going to reverse split on Friday, April 5th. The 1-30 reverse split was announced on Friday, April 5th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 5th.

Cartesian Therapeutics Trading Down 1.6 %

Shares of RNAC stock opened at $0.65 on Monday. Cartesian Therapeutics has a 12 month low of $0.50 and a 12 month high of $1.43. The firm’s fifty day simple moving average is $0.70.

Cartesian Therapeutics (NASDAQ:RNACGet Free Report) last announced its earnings results on Thursday, March 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). The business had revenue of $8.27 million for the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. As a group, analysts expect that Cartesian Therapeutics will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.00 price target on shares of Cartesian Therapeutics in a research report on Monday, March 18th.

Get Our Latest Research Report on RNAC

Insider Activity

In related news, Director Timothy A. Springer purchased 648,372 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $0.54 per share, for a total transaction of $350,120.88. Following the acquisition, the director now owns 30,516,862 shares of the company’s stock, valued at approximately $16,479,105.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 675,016 shares of company stock worth $366,567. 31.20% of the stock is currently owned by insiders.

About Cartesian Therapeutics

(Get Free Report)

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.

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