Leerink Partnrs Weighs in on Cartesian Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:RNAC)

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Equities research analysts at Leerink Partnrs issued their Q1 2024 earnings per share (EPS) estimates for Cartesian Therapeutics in a note issued to investors on Tuesday, April 23rd. Leerink Partnrs analyst T. Smith anticipates that the company will post earnings per share of ($1.34) for the quarter. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is ($1.50) per share. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ Q2 2024 earnings at ($1.38) EPS, Q3 2024 earnings at ($1.27) EPS, Q4 2024 earnings at ($1.09) EPS, FY2024 earnings at ($5.03) EPS, FY2025 earnings at ($4.86) EPS and FY2026 earnings at ($5.58) EPS.

RNAC has been the topic of a number of other research reports. Needham & Company LLC initiated coverage on Cartesian Therapeutics in a report on Tuesday, April 9th. They issued a “buy” rating and a $42.00 target price on the stock. HC Wainwright lifted their price target on Cartesian Therapeutics from $2.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, SVB Leerink started coverage on Cartesian Therapeutics in a report on Tuesday. They set an “outperform” rating and a $39.00 price target on the stock.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ:RNAC opened at $20.90 on Thursday. The business has a 50 day moving average price of $19.26. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($2.10). The firm had revenue of $8.27 million during the quarter. Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%.

Institutional Trading of Cartesian Therapeutics

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

Insiders Place Their Bets

In other news, Director Timothy A. Springer bought 21,612 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $16.20 per share, with a total value of $350,114.40. Following the completion of the transaction, the director now directly owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought 22,472 shares of company stock valued at $365,981 over the last ninety days. 31.20% of the stock is currently 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.