Cartesian Therapeutics, Inc. to Post FY2028 Earnings of ($7.41) Per Share, Leerink Partnrs Forecasts (NASDAQ:RNAC)

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Stock analysts at Leerink Partnrs issued their FY2028 earnings per share (EPS) estimates for Cartesian Therapeutics in a research report issued on Wednesday, May 8th. Leerink Partnrs analyst T. Smith forecasts that the company will earn ($7.41) per share for the year. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is ($3.21) per share.

Several other equities research analysts have also issued reports on RNAC. SVB Leerink assumed coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 23rd. They set an “outperform” rating and a $39.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $54.00 price target on shares of Cartesian Therapeutics in a research note on Thursday.

Cartesian Therapeutics Stock Up 1.2 %

Shares of Cartesian Therapeutics stock traded up $0.26 during mid-day trading on Friday, hitting $22.12. 8,955 shares of the stock were exchanged, compared to its average volume of 50,276. Cartesian Therapeutics has a 12 month low of $11.66 and a 12 month high of $42.60. The firm’s 50-day moving average is $19.44.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share 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 business had revenue of $8.27 million for the quarter.

Insider Transactions at Cartesian Therapeutics

In other news, Director Timothy A. Springer purchased 21,612 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the acquisition, the director now owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 22,446 shares of company stock valued at $365,474. 31.20% of the stock is currently owned by company insiders.

Institutional Trading of Cartesian Therapeutics

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Cartesian Therapeutics in the first quarter worth about $31,000. Hall Laurie J Trustee purchased a new stake in Cartesian Therapeutics in the first quarter worth approximately $34,000. BNP Paribas Financial Markets purchased a new stake in Cartesian Therapeutics in the first quarter worth approximately $38,000. Finally, Delphi Financial Group Inc. purchased a new position in shares of Cartesian Therapeutics during the 1st quarter worth $430,000. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

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.