Cartesian Therapeutics (RNAC) Projected to Post Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) is anticipated to release its earnings data before the market opens on Thursday, March 6th. Analysts expect Cartesian Therapeutics to post earnings of ($0.80) per share and revenue of $0.10 million for the quarter.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $18.03 on Thursday. The company’s 50 day simple moving average is $18.78 and its 200-day simple moving average is $18.41. Cartesian Therapeutics has a 1 year low of $11.67 and a 1 year high of $41.87. The company has a market capitalization of $458.23 million, a price-to-earnings ratio of -0.34 and a beta of 0.61.

Analysts Set New Price Targets

A number of brokerages have issued reports on RNAC. BTIG Research started coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a report on Monday, January 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $45.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.86.

Insider Buying and Selling at Cartesian Therapeutics

In other Cartesian Therapeutics news, CFO Blaine Davis sold 4,028 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.83, for a total value of $67,791.24. Following the sale, the chief financial officer now directly owns 94,811 shares of the company’s stock, valued at approximately $1,595,669.13. This represents a 4.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Metin Kurtoglu sold 2,458 shares of Cartesian Therapeutics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $41,368.14. Following the sale, the chief technology officer now directly owns 62,258 shares of the company’s stock, valued at approximately $1,047,802.14. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,744 shares of company stock valued at $247,337 in the last quarter. Corporate insiders own 57.90% 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.