Cartesian Therapeutics (RNAC) to Release Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) will likely be issuing its results before the market opens on Thursday, March 12th. Analysts expect the company to announce earnings of ($0.82) per share and revenue of $0.10 million for the quarter.

Cartesian Therapeutics Stock Up 5.2%

RNAC stock opened at $7.87 on Thursday. The stock has a market cap of $204.62 million, a PE ratio of -5.04 and a beta of 0.42. The firm’s 50-day simple moving average is $7.15 and its 200 day simple moving average is $8.26. Cartesian Therapeutics has a fifty-two week low of $5.98 and a fifty-two week high of $18.80.

Insider Buying and Selling at Cartesian Therapeutics

In other news, CFO Blaine Davis sold 10,591 shares of Cartesian Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $6.82, for a total value of $72,230.62. Following the transaction, the chief financial officer owned 121,220 shares of the company’s stock, valued at $826,720.40. The trade was a 8.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 60.30% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A number of large investors have recently added to or reduced their stakes in RNAC. Rhumbline Advisers grew its position in Cartesian Therapeutics by 27.5% in the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after buying an additional 2,805 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Cartesian Therapeutics by 114.0% during the 2nd quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock worth $859,000 after acquiring an additional 44,025 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Cartesian Therapeutics by 133.0% during the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock worth $145,000 after acquiring an additional 7,952 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cartesian Therapeutics by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock worth $5,322,000 after acquiring an additional 24,356 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Cartesian Therapeutics during the third quarter worth $256,000. 86.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RNAC shares. HC Wainwright cut their price target on Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Wall Street Zen downgraded Cartesian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Needham & Company LLC boosted their price target on Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Monday, December 29th. Finally, BTIG Research lifted their price objective on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.