Equities Analysts Offer Predictions for Cartesian Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:RNAC)

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Analysts at Leerink Partnrs issued their Q1 2024 EPS estimates for shares of Cartesian Therapeutics in a research note issued on Tuesday, April 23rd. Leerink Partnrs analyst T. Smith expects that the company will post earnings per share of ($1.34) for the quarter. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is ($3.21) per share. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ 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 and FY2026 earnings at ($5.58) EPS.

Cartesian Therapeutics (NASDAQ:RNAC) last released its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($2.10). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%. The firm had revenue of $8.27 million for the quarter.

Several other analysts have also weighed in on the stock. HC Wainwright lifted their price objective on shares of Cartesian Therapeutics from $2.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC assumed coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 9th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, SVB Leerink assumed coverage on shares of Cartesian Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $39.00 price objective for the company.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC opened at $21.03 on Thursday. The company has a fifty day moving average of $19.20. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $42.60.

Institutional Trading of Cartesian Therapeutics

An institutional investor recently bought a new position in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Insider Activity

In other Cartesian Therapeutics news, Director Timothy A. Springer purchased 21,612 shares of Cartesian Therapeutics stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the transaction, the director now owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 22,472 shares of company stock worth $365,981 in the last quarter. 31.20% of the stock is owned by corporate insiders.

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.