Cantor Fitzgerald Issues Negative Estimate for RNAC Earnings

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Equities researchers at Cantor Fitzgerald decreased their FY2025 earnings per share estimates for shares of Cartesian Therapeutics in a report released on Monday, May 12th. Cantor Fitzgerald analyst K. Kluska now expects that the company will earn ($3.92) per share for the year, down from their previous forecast of ($3.65). The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.56 per share.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC reduced their target price on shares of Cartesian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cartesian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Cartesian Therapeutics Price Performance

RNAC stock opened at $10.20 on Wednesday. Cartesian Therapeutics has a 1 year low of $8.85 and a 1 year high of $41.87. The firm has a market capitalization of $264.56 million, a PE ratio of -0.19 and a beta of 0.51. The business has a 50 day simple moving average of $12.78 and a 200-day simple moving average of $16.91.

Cartesian Therapeutics (NASDAQ:RNAC) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.07). The business had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.69 million.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors have recently modified their holdings of RNAC. Mirae Asset Global Investments Co. Ltd. raised its stake in Cartesian Therapeutics by 22.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after acquiring an additional 847 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Cartesian Therapeutics by 10.0% during the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock worth $183,000 after acquiring an additional 927 shares during the period. Corebridge Financial Inc. lifted its position in Cartesian Therapeutics by 32.6% in the fourth quarter. Corebridge Financial Inc. now owns 5,122 shares of the company’s stock valued at $92,000 after purchasing an additional 1,258 shares during the period. Bank of New York Mellon Corp increased its position in Cartesian Therapeutics by 7.9% during the 1st quarter. Bank of New York Mellon Corp now owns 20,937 shares of the company’s stock worth $276,000 after purchasing an additional 1,530 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cartesian Therapeutics by 44.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,786 shares of the company’s stock valued at $104,000 after buying an additional 1,789 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.