Analysts Set Expectations for Cartesian Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:RNAC)

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Equities research analysts at Leerink Partnrs issued their Q1 2024 EPS estimates for shares of Cartesian Therapeutics in a research report issued to clients and investors on Tuesday, April 23rd. Leerink Partnrs analyst T. Smith expects that the company will post earnings of ($1.34) per share for the quarter. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is ($1.50) per share. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ Q2 2024 earnings at ($1.38) EPS, Q3 2024 earnings at ($1.27) EPS, Q4 2024 earnings at ($1.09) EPS, FY2024 earnings at ($5.03) EPS, FY2025 earnings at ($4.86) EPS and FY2026 earnings at ($5.58) EPS.

RNAC has been the subject of several other reports. HC Wainwright upped their price target on shares of Cartesian Therapeutics from $2.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC initiated coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 9th. They set a “buy” rating and a $42.00 price target for the company. Finally, SVB Leerink initiated coverage on shares of Cartesian Therapeutics in a report on Tuesday. They set an “outperform” rating and a $39.00 target price for the company.

Cartesian Therapeutics Stock Up 0.6 %

NASDAQ RNAC opened at $20.72 on Thursday. The company’s 50-day simple moving average is $19.29. Cartesian Therapeutics has a 12-month low of $11.66 and a 12-month high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its 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 net margin of 845.01% and a negative return on equity of 58.21%. The firm had revenue of $8.27 million during the quarter.

Hedge Funds Weigh In On Cartesian Therapeutics

An institutional investor recently bought a new position in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new stake in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned approximately 0.98% of Cartesian Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 86.95% of the stock is owned by institutional investors.

Insider Transactions 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 stock was bought at an average cost of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, the director now directly owns 1,017,228 shares in the company, valued at $16,479,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders bought 22,472 shares of company stock worth $365,981. Company insiders own 31.20% 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.