Cartesian Therapeutics (RNAC) Expected to Announce Quarterly Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) will likely be releasing its earnings data before the market opens on Thursday, March 6th. Analysts expect Cartesian Therapeutics to post earnings of ($0.80) per share and revenue of $0.10 million for the quarter.

Cartesian Therapeutics Price Performance

Cartesian Therapeutics stock opened at $17.50 on Tuesday. The stock has a market cap of $444.76 million, a price-to-earnings ratio of -0.33 and a beta of 0.61. Cartesian Therapeutics has a 1 year low of $11.67 and a 1 year high of $41.87. The firm has a 50-day moving average of $18.72 and a two-hundred day moving average of $18.55.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RNAC. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday, January 28th. BTIG Research began coverage on shares of Cartesian Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target for the company. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.86.

Insider Activity at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 2,458 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $41,368.14. Following the transaction, the chief technology officer now owns 62,258 shares in the company, valued at approximately $1,047,802.14. This represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Blaine Davis sold 4,028 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $67,791.24. Following the transaction, the chief financial officer now owns 94,811 shares in the company, valued at $1,595,669.13. The trade was a 4.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,744 shares of company stock valued at $247,337 over the last 90 days. Insiders own 57.90% 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.