Cartesian Therapeutics (NASDAQ:RNAC) Rating Reiterated by Leerink Partnrs

Leerink Partnrs reissued their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note issued to investors on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ Q1 2024 earnings at ($1.34) EPS, Q2 2024 earnings at ($1.38) EPS, Q3 2024 earnings at ($1.27) EPS, Q4 2024 earnings at ($1.09) EPS, FY2024 earnings at ($5.03) EPS, FY2025 earnings at ($4.86) EPS, FY2026 earnings at ($5.58) EPS and FY2027 earnings at ($7.10) EPS.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC started coverage on shares of Cartesian Therapeutics in a report on Tuesday, April 9th. They set a buy rating and a $42.00 price objective for the company. SVB Leerink started coverage on shares of Cartesian Therapeutics in a report on Tuesday. They set an outperform rating and a $39.00 price objective for the company. Finally, HC Wainwright raised their price objective on shares of Cartesian Therapeutics from $2.00 to $54.00 and gave the stock a buy rating in a report on Tuesday.

Cartesian Therapeutics Trading Up 0.9 %

NASDAQ:RNAC opened at $20.90 on Tuesday. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The firm has a fifty day moving average price of $19.26.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings results 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). Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. The company had revenue of $8.27 million during the quarter. Research analysts forecast that Cartesian Therapeutics will post -3.21 EPS for the current year.

Insider Activity at Cartesian Therapeutics

In related news, Director Timothy A. Springer acquired 21,612 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the transaction, the director now owns 1,017,228 shares of the company’s stock, valued at approximately $16,479,093.60. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought 22,472 shares of company stock valued at $365,981 in the last ninety days. Insiders own 31.20% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 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 reporting period. Hedge funds and other institutional investors own 86.95% 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.