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

Cartesian Therapeutics (NASDAQ:RNAC) will likely be posting its quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect Cartesian Therapeutics to post earnings of ($0.80) per share and revenue of $0.10 million for the quarter.

Cartesian Therapeutics Trading Up 1.9 %

RNAC stock opened at $17.84 on Wednesday. The firm has a 50-day moving average price of $18.70 and a 200-day moving average price of $18.57. Cartesian Therapeutics has a 12 month low of $11.67 and a 12 month high of $41.87. The stock has a market capitalization of $453.40 million, a P/E ratio of -0.34 and a beta of 0.71.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BTIG Research started coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research note on Monday, January 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.86.

Insider Activity

In other news, CFO Blaine Davis sold 3,961 shares of Cartesian Therapeutics stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $66,227.92. Following the completion of the transaction, the chief financial officer now directly owns 98,839 shares of the company’s stock, valued at approximately $1,652,588.08. This trade represents a 3.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Metin Kurtoglu sold 2,417 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $40,412.24. Following the transaction, the chief technology officer now owns 64,716 shares in the company, valued at $1,082,051.52. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,744 shares of company stock valued at $247,337. Company insiders own 57.90% of the company’s stock.

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.