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

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Equities researchers at HC Wainwright raised their Q1 2024 earnings per share estimates for shares of Cartesian Therapeutics in a research report issued on Tuesday, April 23rd. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of ($0.27) per share for the quarter, up from their prior estimate of ($0.30). HC Wainwright currently has a “Buy” rating and a $54.00 price target 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 posted its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($2.10). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%. The business had revenue of $8.27 million during the quarter.

Several other analysts have also recently issued reports on the company. SVB Leerink started coverage on Cartesian Therapeutics in a report on Tuesday. They set an “outperform” rating and a $39.00 price objective on the stock. Needham & Company LLC started coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday.

Cartesian Therapeutics Stock Performance

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

Insider Activity at Cartesian Therapeutics

In related news, Director Timothy A. Springer purchased 21,612 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the acquisition, the director now owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have purchased 22,472 shares of company stock worth $365,981. Company insiders own 31.20% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned 0.98% of Cartesian Therapeutics as of its most recent filing with the SEC. Institutional investors and hedge funds own 86.95% of the company’s stock.

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.