Cartesian Therapeutics (RNAC) Projected to Post Quarterly Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) will likely be posting its results before the market opens on Thursday, November 6th. Analysts expect Cartesian Therapeutics to post earnings of ($0.81) per share and revenue of $0.1780 million for the quarter.

Cartesian Therapeutics (NASDAQ:RNAC) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.76) by $1.26. The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.77 million. On average, analysts expect Cartesian Therapeutics to post $5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cartesian Therapeutics Trading Down 5.2%

Shares of NASDAQ RNAC opened at $7.71 on Wednesday. Cartesian Therapeutics has a 1 year low of $7.68 and a 1 year high of $26.50. The firm’s 50-day moving average is $9.59 and its 200-day moving average is $10.60. The firm has a market capitalization of $200.48 million, a PE ratio of -8.86 and a beta of 0.39.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP increased its position in shares of Cartesian Therapeutics by 114.0% in the 2nd quarter. Marshall Wace LLP now owns 82,630 shares of the company’s stock valued at $859,000 after buying an additional 44,025 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Cartesian Therapeutics by 27.5% in the first quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after acquiring an additional 2,805 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Cartesian Therapeutics by 133.0% during the second quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock worth $145,000 after purchasing an additional 7,952 shares during the period. 86.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RNAC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cartesian Therapeutics in a report on Wednesday, October 8th. Wedbush initiated coverage on Cartesian Therapeutics in a research report on Wednesday, July 9th. They issued an “outperform” rating and a $38.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

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.