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

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate 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 Stock Down 3.3%

RNAC stock traded down $0.34 during trading on Tuesday, hitting $10.10. The company had a trading volume of 37,787 shares, compared to its average volume of 115,628. Cartesian Therapeutics has a 1-year low of $8.85 and a 1-year high of $41.87. The firm has a 50-day moving average price of $12.94 and a 200-day moving average price of $16.95. The firm has a market cap of $261.96 million, a PE ratio of -0.19 and a beta of 0.51.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RNAC shares. HC Wainwright restated a "buy" rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a research note on Wednesday, April 9th. Needham & Company LLC reduced their price target on Cartesian Therapeutics from $41.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Cartesian Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price 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.