Cartesian Therapeutics’ (RNAC) Outperform Rating Reiterated at Leerink Partnrs

Leerink Partnrs reiterated their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note released on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ Q1 2024 earnings at ($1.34) EPS, 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, FY2026 earnings at ($5.58) EPS and FY2027 earnings at ($7.10) EPS.

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

Cartesian Therapeutics Stock Up 0.6 %

NASDAQ RNAC opened at $21.03 on Tuesday. The stock has a 50 day moving average of $19.20. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings data on Thursday, March 7th. The company reported ($2.40) earnings per share (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 for the quarter. Sell-side analysts predict that Cartesian Therapeutics will post -3.21 EPS for the current fiscal year.

Insider Buying and Selling 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 acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the purchase, the director now directly owns 1,017,228 shares in the company, valued at $16,479,093.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have purchased 22,472 shares of company stock valued at $365,981. 31.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cartesian Therapeutics

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

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.