Cartesian Therapeutics (RNAC) Projected to Announce Quarterly Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) is expected to be issuing its results before the market opens on Thursday, August 6th. Analysts expect Cartesian Therapeutics to announce earnings of ($0.83) per share and revenue of $0.18 million for the quarter.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC opened at $7.87 on Tuesday. The company’s 50-day moving average price is $8.46 and its two-hundred day moving average price is $7.52. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $12.57. The stock has a market capitalization of $231.22 million, a PE ratio of -1.33 and a beta of 0.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP grew its holdings in Cartesian Therapeutics by 110.1% during the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after purchasing an additional 93,334 shares during the period. Walleye Capital LLC acquired a new position in Cartesian Therapeutics during the fourth quarter worth approximately $316,000. Renaissance Technologies LLC bought a new stake in Cartesian Therapeutics in the fourth quarter valued at approximately $296,000. Geode Capital Management LLC raised its stake in Cartesian Therapeutics by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock valued at $1,843,000 after buying an additional 13,710 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Cartesian Therapeutics in the third quarter valued at approximately $259,000. Institutional investors own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of Cartesian Therapeutics in a research report on Wednesday, June 10th. BTIG Research restated a “buy” rating and issued a $44.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, HC Wainwright dropped their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

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.