Cartesian Therapeutics (NASDAQ:RNAC) Releases Earnings Results, Misses Estimates By $0.07 EPS

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) announced its earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.07), Zacks reports. The business had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.69 million.

Cartesian Therapeutics Price Performance

RNAC traded down $0.10 during trading hours on Thursday, reaching $9.89. The company's stock had a trading volume of 25,941 shares, compared to its average volume of 115,523. The stock has a market cap of $256.39 million, a PE ratio of -0.19 and a beta of 0.51. Cartesian Therapeutics has a fifty-two week low of $8.85 and a fifty-two week high of $41.87. The business's 50-day moving average is $12.61 and its 200-day moving average is $16.86.

Analyst Upgrades and Downgrades

RNAC has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.50.

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.