Cartesian Therapeutics (RNAC) Projected to Post Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) is expected to be issuing its results before the market opens on Thursday, November 6th. Analysts expect the company to announce earnings of ($0.81) per share and revenue of $0.1780 million for the quarter.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of ($0.76) by $1.26. The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.77 million. On average, analysts expect Cartesian Therapeutics to post $5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC opened at $8.13 on Tuesday. The company has a 50-day moving average of $9.65 and a 200 day moving average of $10.62. Cartesian Therapeutics has a 1-year low of $7.75 and a 1-year high of $26.50. The firm has a market cap of $211.40 million, a PE ratio of -9.34 and a beta of 0.39.

Institutional Investors Weigh In On Cartesian Therapeutics

Several institutional investors have recently added to or reduced their stakes in RNAC. Rhumbline Advisers grew its stake in shares of Cartesian Therapeutics by 27.5% during the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after acquiring an additional 2,805 shares during the last quarter. Bank of America Corp DE grew its position in Cartesian Therapeutics by 133.0% during the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock worth $145,000 after purchasing an additional 7,952 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Cartesian Therapeutics by 114.0% in the second quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock worth $859,000 after buying an additional 44,025 shares during the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on RNAC shares. Wedbush started coverage on Cartesian Therapeutics in a research report on Wednesday, July 9th. They issued an “outperform” rating and a $38.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

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.