Brokers Set Expectations for RNAC FY2024 Earnings

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Cantor Fitzgerald issued their FY2024 earnings per share (EPS) estimates for Cartesian Therapeutics in a report issued on Monday, December 2nd. Cantor Fitzgerald analyst K. Kluska expects that the company will post earnings per share of ($5.18) for the year. Cantor Fitzgerald has a “Hold” rating on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $0.99 per share.

A number of other equities research analysts also recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday. HC Wainwright restated a “buy” rating and issued a $45.00 target price (up previously from $41.00) on shares of Cartesian Therapeutics in a research report on Wednesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Cartesian Therapeutics Stock Up 4.6 %

NASDAQ:RNAC opened at $23.01 on Wednesday. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $41.87. The company has a market capitalization of $584.91 million, a P/E ratio of -0.44 and a beta of 0.59. The stock’s fifty day moving average is $20.11 and its two-hundred day moving average is $19.77.

Insider Buying and Selling

In other news, insider Milos Miljkovic sold 35,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.13, for a total transaction of $564,550.00. Following the completion of the transaction, the insider now directly owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. This represents a 65.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy A. Springer acquired 80,301 shares of the stock in a transaction dated Friday, October 4th. The shares were acquired at an average cost of $22.58 per share, with a total value of $1,813,196.58. Following the completion of the transaction, the director now owns 8,023,766 shares in the company, valued at approximately $181,176,636.28. This represents a 1.01 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 128,089 shares of company stock valued at $2,169,555 in the last three months. 57.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Cartesian Therapeutics in the 1st quarter valued at about $4,105,000. Logos Global Management LP purchased a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $2,431,000. Marshall Wace LLP purchased a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $811,000. Point72 DIFC Ltd purchased a new stake in shares of Cartesian Therapeutics in the 2nd quarter valued at about $47,000. Finally, Great Point Partners LLC purchased a new stake in shares of Cartesian Therapeutics in the 3rd quarter valued at about $3,224,000. 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.