Cartesian Therapeutics (NASDAQ:RNAC) Releases Earnings Results, Beats Expectations By $1.35 EPS

Cartesian Therapeutics (NASDAQ:RNAC) released its quarterly earnings data on Thursday. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of ($0.81) by $1.35, Zacks reports. The firm had revenue of $33.45 million for the quarter, compared to the consensus estimate of $6.00 million.

Cartesian Therapeutics Stock Up 3.9 %

Shares of NASDAQ:RNAC traded up $0.50 during mid-day trading on Friday, reaching $13.37. 49,521 shares of the stock were exchanged, compared to its average volume of 111,382. The stock’s 50 day simple moving average is $21.35 and its 200-day simple moving average is $21.34. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $42.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. HC Wainwright reduced their price target on shares of Cartesian Therapeutics from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Needham & Company LLC reduced their target price on Cartesian Therapeutics from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday. Leerink Partnrs restated an “outperform” rating on shares of Cartesian Therapeutics in a report on Tuesday, April 23rd. TD Cowen started coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. Finally, Oppenheimer lowered Cartesian Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.67.

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.