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

Cartesian Therapeutics (NASDAQ:RNAC) is expected to release its results before the market opens on Thursday, November 6th. Analysts expect Cartesian Therapeutics to post earnings of ($0.81) per share for the quarter.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.76) by $1.26. The business had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.77 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 Stock Performance

Shares of Cartesian Therapeutics stock opened at $8.20 on Thursday. Cartesian Therapeutics has a 1 year low of $7.75 and a 1 year high of $26.50. The company has a market capitalization of $213.20 million, a P/E ratio of -9.43 and a beta of 0.39. The company’s fifty day moving average is $9.83 and its two-hundred day moving average is $10.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RNAC shares. Wedbush initiated coverage on shares of Cartesian Therapeutics in a research note on Wednesday, July 9th. They set an “outperform” rating and a $38.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cartesian Therapeutics in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Institutional Trading of Cartesian Therapeutics

Several hedge funds have recently modified their holdings of the business. Marshall Wace LLP boosted its stake in shares of Cartesian Therapeutics by 114.0% in the second quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock valued at $859,000 after buying an additional 44,025 shares in the last quarter. Rhumbline Advisers raised 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 acquiring an additional 2,805 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Cartesian Therapeutics by 133.0% in the second quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock valued at $145,000 after acquiring an additional 7,952 shares during the period. 86.95% of the stock is 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.