Cartesian Therapeutics (NASDAQ:RNAC) Announces Quarterly Earnings Results

Cartesian Therapeutics (NASDAQ:RNAC) released its quarterly earnings results on Thursday. The company reported $0.46 EPS for the quarter, topping the consensus estimate of ($0.88) by $1.34, Zacks reports.

Cartesian Therapeutics Stock Up 1.0%

Shares of RNAC traded up $0.09 during mid-day trading on Friday, hitting $8.85. 83,713 shares of the company traded hands, compared to its average volume of 140,879. Cartesian Therapeutics has a 1-year low of $5.60 and a 1-year high of $12.25. The company has a market capitalization of $260.01 million, a PE ratio of -1.49 and a beta of 0.63. The business has a 50 day moving average of $8.58 and a 200 day moving average of $7.55.

Analysts Set New Price Targets

RNAC has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, June 10th. Wall Street Zen raised shares of Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of Cartesian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Finally, HC Wainwright decreased their target price on shares of Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Institutional Trading of Cartesian Therapeutics

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Cartesian Therapeutics by 4.9% in the third quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock worth $5,322,000 after buying an additional 24,356 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cartesian Therapeutics by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock valued at $1,843,000 after acquiring an additional 13,710 shares during the period. Marshall Wace LLP raised its stake in Cartesian Therapeutics by 110.1% in the 4th 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 raised its stake in Cartesian Therapeutics by 548.2% in the 4th quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after acquiring an additional 139,009 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Cartesian Therapeutics in the fourth quarter worth about $316,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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.