Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.63, FiscalAI reports.
Cartesian Therapeutics Stock Performance
Shares of NASDAQ RNAC traded up $0.75 during midday trading on Friday, reaching $7.53. 121,614 shares of the company were exchanged, compared to its average volume of 129,075. The stock’s 50-day moving average price is $7.40 and its 200-day moving average price is $7.64. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $11.00.
Analyst Upgrades and Downgrades
RNAC has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cartesian Therapeutics in a research note on Wednesday, September 9th. Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, August 18th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, September 29th. Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Cartesian Therapeutics in a research note on Wednesday, September 30th. Five research 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.60.
About Cartesian Therapeutics
Cartesian Therapeutics, Inc (NASDAQ: RNAC) is a clinical-stage biotechnology company focused on developing mRNA cell therapies for autoimmune diseases. The company’s platform is designed to program a patient’s own immune cells with messenger RNA, enabling the development of cell therapies that are intended to provide targeted treatment without permanent genetic modification.
Cartesian’s lead product candidate is Descartes-08, an autologous CAR T-cell therapy that targets B-cell maturation antigen (BCMA).
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