Cartesian Therapeutics (RNAC) Projected to Post Earnings on Thursday

Key Points

• Cartesian Therapeutics is scheduled to report quarterly results before the market opens on May 7, with analysts forecasting earnings of ($0.84) per share and $0.22M in revenue; the company missed last quarter's EPS estimate (reported ($1.38) vs. ($0.82) expected) and analysts expect about -$3 EPS for the current and next fiscal years.
• RNAC shares opened at $6.47 and were down roughly 4.9%, the company has a market cap of $171.5M and ~86.95% institutional ownership, and analyst coverage is mixed—five Buys and one Sell—with an average rating of "Moderate Buy" and an average price target of $34.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) is expected to be issuing its results before the market opens on Thursday, May 7th. Analysts expect the company to announce earnings of ($0.84) per share and revenue of $0.22 million for the quarter.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last issued its quarterly earnings data on Monday, March 9th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.56). The business had revenue of $0.95 million for the quarter, compared to analysts' expectations of $0.10 million. On average, analysts expect Cartesian Therapeutics to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Cartesian Therapeutics Stock Down 4.9%

Shares of RNAC stock opened at $6.47 on Thursday. The firm has a 50 day moving average price of $6.87 and a two-hundred day moving average price of $7.30. The company has a market capitalization of $171.51 million, a PE ratio of -1.26 and a beta of 0.47. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $15.57.

Wall Street Analysts Forecast Growth

RNAC has been the subject of several research reports. BTIG Research restated a "buy" rating on shares of Cartesian Therapeutics in a research report on Monday, March 9th. Needham & Company LLC restated a "buy" rating and issued a $42.00 price target on shares of Cartesian Therapeutics in a research note on Monday, March 9th. Wedbush reaffirmed an "outperform" rating and set a $38.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cartesian Therapeutics in a research report on Friday, March 27th. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics from a "neutral" rating to an "overweight" rating and set a $16.00 price target on the stock in a research report on Monday, March 9th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Cartesian Therapeutics has an average rating of "Moderate Buy" and an average price target of $34.00.

Hedge Funds Weigh In On Cartesian Therapeutics

Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in Cartesian Therapeutics by 49.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,762 shares of the company's stock worth $85,000 after acquiring an additional 3,878 shares during the period. Public Employees Retirement System of Ohio bought a new position in Cartesian Therapeutics during the fourth quarter worth about $112,000. Jain Global LLC acquired a new stake in Cartesian Therapeutics during the fourth quarter worth about $121,000. Squarepoint Ops LLC acquired a new stake in Cartesian Therapeutics during the fourth quarter worth about $131,000. Finally, Bank of America Corp DE grew its stake in Cartesian Therapeutics by 133.0% during the second quarter. Bank of America Corp DE now owns 13,933 shares of the company's stock worth $145,000 after buying an additional 7,952 shares in the last quarter. 86.95% of the stock is owned by institutional investors.

About Cartesian Therapeutics

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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