Equities Analysts Issue Forecasts for RNAC FY2029 Earnings

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) - Equities researchers at Leerink Partnrs issued their FY2029 earnings estimates for shares of Cartesian Therapeutics in a research report issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith forecasts that the company will earn ($6.12) per share for the year. The consensus estimate for Cartesian Therapeutics' current full-year earnings is $4.07 per share.

Several other brokerages also recently commented on RNAC. BTIG Research initiated coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They set a "buy" rating and a $42.00 target price for the company. Needham & Company LLC reissued a "buy" rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Monday, January 27th. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a "hold" rating in a research note on Monday, December 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $45.00 price target 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 given a buy rating to the stock. Based on data from MarketBeat, Cartesian Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $42.86.

Cartesian Therapeutics Price Performance

RNAC traded down $0.28 during trading on Friday, hitting $18.23. 24,981 shares of the stock traded hands, compared to its average volume of 80,496. Cartesian Therapeutics has a twelve month low of $11.66 and a twelve month high of $41.87. The company has a market cap of $463.41 million, a price-to-earnings ratio of -0.35 and a beta of 0.61. The business has a 50 day moving average price of $19.27 and a 200 day moving average price of $18.10.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, CFO Blaine Davis sold 4,028 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $67,791.24. Following the sale, the chief financial officer now directly owns 94,811 shares in the company, valued at $1,595,669.13. The trade was a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Metin Kurtoglu sold 34,400 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $18.39, for a total transaction of $632,616.00. Following the completion of the sale, the chief technology officer now directly owns 51,033 shares in the company, valued at approximately $938,496.87. This trade represents a 40.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,833 shares of company stock worth $2,416,892 in the last quarter. 57.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cartesian Therapeutics

Several hedge funds have recently bought and sold shares of RNAC. FMR LLC grew its position in shares of Cartesian Therapeutics by 458.3% during the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company's stock valued at $45,972,000 after purchasing an additional 2,341,054 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Cartesian Therapeutics by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 309,018 shares of the company's stock worth $4,981,000 after purchasing an additional 2,688 shares during the last quarter. Great Point Partners LLC bought a new position in Cartesian Therapeutics during the 3rd quarter worth approximately $3,224,000. State Street Corp boosted its position in Cartesian Therapeutics by 2.5% during the 3rd quarter. State Street Corp now owns 157,495 shares of the company's stock valued at $2,539,000 after buying an additional 3,830 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cartesian Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 135,700 shares of the company's stock worth $2,188,000 after purchasing an additional 2,737 shares during the period. Hedge funds and other institutional investors own 86.95% 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.