Cantor Fitzgerald Brokers Lower Earnings Estimates for RNAC

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Equities research analysts at Cantor Fitzgerald reduced their FY2025 earnings estimates for Cartesian Therapeutics in a research note issued to investors on Monday, May 12th. Cantor Fitzgerald analyst K. Kluska now expects that the company will post earnings of ($3.92) per share for the year, down from their prior forecast of ($3.65). The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.56 per share.

Several other equities analysts also recently issued reports on RNAC. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Needham & Company LLC cut their price target on Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $42.50.

Cartesian Therapeutics Trading Down 2.2%

Shares of RNAC stock opened at $9.98 on Wednesday. The company has a market capitalization of $258.85 million, a price-to-earnings ratio of -0.19 and a beta of 0.51. Cartesian Therapeutics has a twelve month low of $8.85 and a twelve month high of $41.87. The firm has a 50-day moving average price of $12.61 and a 200 day moving average price of $16.86.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.07). The firm had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.69 million.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in RNAC. Mirae Asset Global Investments Co. Ltd. grew its position in Cartesian Therapeutics by 22.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after acquiring an additional 847 shares during the period. Rhumbline Advisers grew its holdings in shares of Cartesian Therapeutics by 10.0% during the 4th quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock worth $183,000 after purchasing an additional 927 shares during the period. Corebridge Financial Inc. grew its holdings in shares of Cartesian Therapeutics by 32.6% during the 4th quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock worth $92,000 after purchasing an additional 1,258 shares during the period. Bank of New York Mellon Corp increased its position in Cartesian Therapeutics by 7.9% during the 1st quarter. Bank of New York Mellon Corp now owns 20,937 shares of the company’s stock worth $276,000 after purchasing an additional 1,530 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cartesian Therapeutics by 44.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock valued at $104,000 after buying an additional 1,789 shares during the period. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.