Equities Analysts Issue Forecasts for RNAC FY2029 Earnings

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Stock analysts at Leerink Partnrs issued their FY2029 EPS estimates for shares of Cartesian Therapeutics in a research report issued to clients and investors on Wednesday, February 5th. Leerink Partnrs analyst T. Smith expects that the company will post earnings of ($6.12) per share for the year. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.07 per share.

Other equities analysts also recently issued research reports about the company. BTIG Research began coverage on Cartesian Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $42.00 price target on the stock. Cantor Fitzgerald upgraded shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a report on Monday, January 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $42.86.

Cartesian Therapeutics Stock Down 2.4 %

RNAC opened at $18.36 on Friday. The stock’s fifty day moving average is $19.30 and its two-hundred day moving average is $18.06. The company has a market capitalization of $466.71 million, a P/E ratio of -0.35 and a beta of 0.61. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $41.87.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of large investors have recently made changes to their positions in RNAC. BNP Paribas Financial Markets raised its stake in Cartesian Therapeutics by 122.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after acquiring an additional 909 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cartesian Therapeutics by 22.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock worth $82,000 after purchasing an additional 847 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Cartesian Therapeutics during the fourth quarter worth about $97,000. Rhumbline Advisers boosted its position in Cartesian Therapeutics by 10.0% in the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock valued at $183,000 after buying an additional 927 shares during the last quarter. Finally, Barclays PLC increased its holdings in Cartesian Therapeutics by 208.6% in the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock worth $188,000 after buying an additional 7,849 shares during the period. 86.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cartesian Therapeutics news, insider Milos Miljkovic sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.13, for a total value of $564,550.00. Following the completion of the sale, the insider now owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. This trade represents a 65.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blaine Davis sold 3,961 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $66,227.92. Following the transaction, the chief financial officer now owns 98,839 shares in the company, valued at approximately $1,652,588.08. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,833 shares of company stock worth $2,416,892 in the last ninety days. 57.90% of the stock is owned by insiders.

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.