Cartesian Therapeutics (RNAC) to Release Quarterly Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) will likely be releasing its results before the market opens on Thursday, August 6th. Analysts expect Cartesian Therapeutics to post earnings of ($0.83) per share and revenue of $0.18 million for the quarter.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its earnings results on Thursday, April 30th. The company reported ($1.46) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.22 million. On average, analysts expect Cartesian Therapeutics to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Cartesian Therapeutics Trading Down 3.0%

Shares of Cartesian Therapeutics stock opened at $7.42 on Thursday. Cartesian Therapeutics has a twelve month low of $5.60 and a twelve month high of $13.96. The stock has a market capitalization of $218.00 million, a P/E ratio of -1.26 and a beta of 0.59. The business’s fifty day moving average price is $8.39 and its 200 day moving average price is $7.52.

Analyst Ratings Changes

Several equities research analysts have commented on RNAC shares. Weiss Ratings upgraded Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. BTIG Research reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Wall Street Zen raised shares of Cartesian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 14th. Finally, HC Wainwright cut their price target on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Cartesian Therapeutics presently has a consensus rating of “Hold” and an average price target of $32.60.

Institutional Investors Weigh In On Cartesian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its stake in shares of Cartesian Therapeutics by 548.2% in the fourth quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock valued at $1,185,000 after buying an additional 139,009 shares in the last quarter. Marshall Wace LLP lifted its position in Cartesian Therapeutics by 110.1% during the 4th quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after acquiring an additional 93,334 shares in the last quarter. Walleye Capital LLC purchased a new position in Cartesian Therapeutics in the 4th quarter worth approximately $316,000. Renaissance Technologies LLC purchased a new position in Cartesian Therapeutics in the 4th quarter worth approximately $296,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Cartesian Therapeutics in the third quarter valued at approximately $256,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.