Q1 2024 Earnings Forecast for Cartesian Therapeutics, Inc. Issued By HC Wainwright (NASDAQ:RNAC)

Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) - Investment analysts at HC Wainwright increased their Q1 2024 earnings estimates for shares of Cartesian Therapeutics in a report released on Tuesday, April 23rd. HC Wainwright analyst M. Kapoor now expects that the company will earn ($0.27) per share for the quarter, up from their prior forecast of ($0.30). HC Wainwright has a "Buy" rating and a $54.00 price objective on the stock. The consensus estimate for Cartesian Therapeutics' current full-year earnings is ($1.50) per share. HC Wainwright also issued estimates for Cartesian Therapeutics' Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.38) EPS and FY2025 earnings at ($2.05) EPS.

Several other brokerages also recently commented on RNAC. Leerink Partnrs reiterated an "outperform" rating on shares of Cartesian Therapeutics in a report on Tuesday. Needham & Company LLC started coverage on shares of Cartesian Therapeutics in a report on Tuesday, April 9th. They issued a "buy" rating and a $42.00 target price on the stock. Finally, SVB Leerink started coverage on shares of Cartesian Therapeutics in a report on Tuesday. They issued an "outperform" rating and a $39.00 target price on the stock.

Cartesian Therapeutics Trading Up 0.9 %

Shares of Cartesian Therapeutics stock traded up $0.18 during midday trading on Thursday, reaching $20.90. 121,641 shares of the company's stock traded hands, compared to its average volume of 45,258. The firm has a 50 day moving average of $19.26. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($2.10). The business had revenue of $8.27 million for the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%.

Hedge Funds Weigh In On Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee acquired a new stake in Cartesian Therapeutics, Inc. (NASDAQ:RNAC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,775 shares of the company's stock, valued at approximately $34,000. Hall Laurie J Trustee owned 0.98% of Cartesian Therapeutics at the end of the most recent reporting period. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, Director Timothy A. Springer bought 21,612 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, the director now directly owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 22,472 shares of company stock worth $365,981. 31.20% of the stock is currently owned by company insiders.

About Cartesian Therapeutics

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.