Cartesian Therapeutics (RNAC) to Release Quarterly Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) is expected to issue its quarterly earnings data before the market opens on Thursday, August 14th. Analysts expect the company to announce earnings of ($0.77) per share and revenue of $0.77 million for the quarter.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.07). The business had revenue of $1.10 million for the quarter, compared to analyst estimates of $0.69 million. On average, analysts expect Cartesian Therapeutics to post $5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cartesian Therapeutics Price Performance

Shares of Cartesian Therapeutics stock opened at $11.28 on Thursday. Cartesian Therapeutics has a 1 year low of $8.46 and a 1 year high of $26.50. The firm has a market cap of $292.76 million, a PE ratio of -0.21 and a beta of 0.44. The company has a 50 day simple moving average of $11.40 and a two-hundred day simple moving average of $13.55.

Analysts Set New Price Targets

Several brokerages have issued reports on RNAC. Needham & Company LLC dropped their target price on shares of Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Wedbush began coverage on shares of Cartesian Therapeutics in a research report on Wednesday, July 9th. They set an “outperform” rating and a $38.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Institutional Investors Weigh In On Cartesian Therapeutics

An institutional investor recently raised its position in Cartesian Therapeutics stock. Rhumbline Advisers lifted its holdings in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) by 27.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,006 shares of the company’s stock after acquiring an additional 2,805 shares during the quarter. Rhumbline Advisers owned 0.05% of Cartesian Therapeutics worth $171,000 at the end of the most recent quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.