Leerink Partnrs Reiterates Outperform Rating for Cartesian Therapeutics (NASDAQ:RNAC)

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “outperform” rating reissued by equities researchers at Leerink Partnrs in a report issued on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ FY2027 earnings at ($7.10) EPS.

A number of other brokerages have also recently issued reports on RNAC. HC Wainwright increased their target price on shares of Cartesian Therapeutics from $2.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC began coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 9th. They set a “buy” rating and a $42.00 price objective for the company. Finally, SVB Leerink began coverage on shares of Cartesian Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $39.00 price objective for the company.

Cartesian Therapeutics Price Performance

Shares of NASDAQ:RNAC opened at $20.59 on Tuesday. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60. The firm has a 50-day moving average price of $19.32.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) 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. On average, sell-side analysts anticipate that Cartesian Therapeutics will post -1.5 earnings per share for the current fiscal year.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, Director Timothy A. Springer acquired 21,612 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $16.20 per share, with a total value of $350,114.40. Following the purchase, the director now directly owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired a total of 22,472 shares of company stock valued at $365,981 in the last ninety days. Corporate insiders own 31.20% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned about 0.98% of Cartesian Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 86.95% of the stock is owned by hedge funds and other institutional investors.

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.