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 upped their Q1 2024 earnings per share estimates for Cartesian Therapeutics in a note issued to investors 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.

A number of other research analysts also recently issued reports on RNAC. Needham & Company LLC assumed coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They set a “buy” rating and a $42.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of Cartesian Therapeutics in a research note on Tuesday. Finally, SVB Leerink started coverage on Cartesian Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $39.00 price target for the company.

Cartesian Therapeutics Stock Up 0.6 %

NASDAQ:RNAC 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’s 50-day moving average price is $19.29.

Cartesian Therapeutics (NASDAQ:RNAC) last released 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). The business had revenue of $8.27 million for the quarter. Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned 0.98% of Cartesian Therapeutics at the end of the most recent quarter. Institutional investors own 86.95% of the company’s stock.

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 on Thursday, March 14th. The stock was purchased at an average cost of $16.20 per share, for a total transaction of $350,114.40. Following the completion of the purchase, the director now directly owns 1,017,228 shares in the company, valued at $16,479,093.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 22,472 shares of company stock worth $365,981 over the last ninety days. 31.20% of the stock is currently owned by corporate insiders.

About Cartesian Therapeutics

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.