Cartesian Therapeutics (NASDAQ:RNAC) Releases Earnings Results

Cartesian Therapeutics (NASDAQ:RNAC) issued its quarterly earnings data on Monday. The company reported ($3.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($2.75), FiscalAI reports. The firm had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.10 million.

Cartesian Therapeutics Stock Performance

Cartesian Therapeutics stock opened at $6.85 on Monday. The stock has a market capitalization of $178.10 million, a P/E ratio of -4.39 and a beta of 0.41. The company’s fifty day moving average price is $7.16 and its 200 day moving average price is $8.18. Cartesian Therapeutics has a 1 year low of $5.98 and a 1 year high of $18.80.

Insiders Place Their Bets

In other news, CFO Blaine Davis sold 10,591 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $6.82, for a total value of $72,230.62. Following the transaction, the chief financial officer owned 121,220 shares in the company, valued at $826,720.40. This trade represents a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 60.30% of the company’s stock.

Hedge Funds Weigh In On Cartesian Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RNAC. Wells Fargo & Company MN grew its stake in Cartesian Therapeutics by 49.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,762 shares of the company’s stock valued at $85,000 after acquiring an additional 3,878 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Cartesian Therapeutics by 27.5% during the 1st quarter. Rhumbline Advisers now owns 13,006 shares of the company’s stock worth $171,000 after buying an additional 2,805 shares during the last quarter. Bank of America Corp DE raised its position in shares of Cartesian Therapeutics by 133.0% during the 2nd quarter. Bank of America Corp DE now owns 13,933 shares of the company’s stock valued at $145,000 after buying an additional 7,952 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Cartesian Therapeutics in the fourth quarter valued at approximately $112,000. Finally, Jain Global LLC purchased a new stake in Cartesian Therapeutics in the fourth quarter valued at $121,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RNAC has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price target on shares of Cartesian Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Monday, December 29th. BTIG Research upped their price objective on shares of Cartesian Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, HC Wainwright lowered their target price on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.50.

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.