Q1 2024 Earnings Estimate for Cartesian Therapeutics, Inc. (NASDAQ:RNAC) Issued By HC Wainwright

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Research analysts at HC Wainwright raised their Q1 2024 EPS estimates for Cartesian Therapeutics in a note issued to investors on Tuesday, April 23rd. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of ($0.27) per share 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 data 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). The firm had revenue of $8.27 million during the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%.

Several other brokerages have also commented on RNAC. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cartesian Therapeutics in a research report on Tuesday. Needham & Company LLC began coverage on shares of Cartesian Therapeutics in a research report on Tuesday, April 9th. They set a “buy” rating and a $42.00 price target for the company. Finally, SVB Leerink began coverage on shares of Cartesian Therapeutics in a research report on Tuesday. They set an “outperform” rating and a $39.00 price target for the company.

Cartesian Therapeutics Stock Up 0.9 %

Shares of RNAC stock opened at $20.90 on Thursday. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $42.60. The stock’s 50 day moving average is $19.26.

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 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, Director Timothy A. Springer acquired 21,612 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price 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 $16,479,093.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 22,472 shares of company stock valued at $365,981 over the last 90 days. Corporate insiders own 31.20% of the company’s stock.

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.