Cartesian Therapeutics, Inc. (NASDAQ:RNAC) to Post Q1 2024 Earnings of ($0.27) Per Share, HC Wainwright Forecasts

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Investment analysts at HC Wainwright boosted their Q1 2024 earnings per share (EPS) estimates for Cartesian Therapeutics in a report released on Tuesday, April 23rd. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings per share of ($0.27) for the quarter, up from their prior forecast of ($0.30). HC Wainwright currently has a “Buy” rating and a $54.00 target price on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is ($1.50) per share. HC Wainwright also issued estimates for Cartesian Therapeutics’ Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.38) EPS and FY2025 earnings at ($2.05) EPS.

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

RNAC has been the subject of several other research reports. Leerink Partnrs reissued an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday. Needham & Company LLC started coverage on Cartesian Therapeutics in a research note on Tuesday, April 9th. They set a “buy” rating and a $42.00 price objective for the company. Finally, SVB Leerink started coverage on Cartesian Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $39.00 price objective for the company.

Cartesian Therapeutics Trading Up 0.6 %

Shares of RNAC stock opened at $20.72 on Thursday. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $42.60. The stock has a fifty day simple moving average of $19.29.

Institutional Investors 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 Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the first quarter, according to the company in its most recent Form 13F filing with the 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 currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Timothy A. Springer purchased 21,612 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price 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 approximately $16,479,093.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought a total of 22,472 shares of company stock valued at $365,981 over the last 90 days. 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.