Cartesian Therapeutics (RNAC) Expected to Announce Earnings on Thursday

Key Points

• Cartesian Therapeutics is expected to report earnings before the market opens on August 6. Analysts forecast a quarterly loss of $0.83 per share and revenue of approximately $0.18 million, compared with the prior quarter’s $1.46-per-share loss and $0.08 million in revenue.
• RNAC opened at $7.42, with a market capitalization of $218 million and a 52-week trading range of $5.60 to $13.96. The stock’s consensus analyst rating is “Hold,” with an average price target of $32.60, despite several firms maintaining Buy or Outperform ratings.
• Institutional investors own nearly 87% of the company. Vanguard, Geode Capital, Marshall Wace, and Millennium Management recently increased their positions, while Cartesian continues developing mRNA-based therapeutics for oncology, autoimmune, and rare genetic diseases.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) is expected to announce its results before the market opens on Thursday, August 6th. Analysts expect the company to announce earnings of ($0.83) per share and revenue of $0.18 million for the quarter.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.62). The company had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.22 million. On average, analysts expect Cartesian Therapeutics to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Cartesian Therapeutics Stock Performance

RNAC opened at $7.42 on Thursday. The company has a market cap of $218.00 million, a price-to-earnings ratio of -1.26 and a beta of 0.59. Cartesian Therapeutics has a one year low of $5.60 and a one year high of $13.96. The business's fifty day moving average is $8.39 and its two-hundred day moving average is $7.52.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RNAC. BTIG Research reaffirmed a "buy" rating and set a $44.00 price target on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Weiss Ratings raised shares of Cartesian Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 12th. Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Wedbush restated an "outperform" rating and set a $38.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, June 10th. Finally, Zacks Research downgraded shares of Cartesian Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $32.60.

Institutional Trading of Cartesian Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RNAC. Vanguard Group Inc. increased its stake in shares of Cartesian Therapeutics by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company's stock valued at $5,322,000 after acquiring an additional 24,356 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cartesian Therapeutics by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 255,539 shares of the company's stock worth $1,843,000 after acquiring an additional 13,710 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Cartesian Therapeutics by 110.1% in the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company's stock worth $1,284,000 after acquiring an additional 93,334 shares during the last quarter. Millennium Management LLC grew its holdings in Cartesian Therapeutics by 548.2% in the fourth quarter. Millennium Management LLC now owns 164,366 shares of the company's stock valued at $1,185,000 after purchasing an additional 139,009 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Cartesian Therapeutics in the fourth quarter valued at approximately $316,000. Hedge funds and other institutional investors own 86.95% of the company's stock.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian's technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian's approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.

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