Cartesian Therapeutics (RNAC) Expected to Announce Quarterly Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) is anticipated to announce its earnings results before the market opens on Thursday, March 6th. Analysts expect the company to announce earnings of ($0.80) per share and revenue of $0.10 million for the quarter.

Cartesian Therapeutics Stock Performance

RNAC opened at $17.50 on Tuesday. The stock has a market capitalization of $444.76 million, a price-to-earnings ratio of -0.33 and a beta of 0.61. The company has a fifty day moving average of $18.72 and a 200 day moving average of $18.55. Cartesian Therapeutics has a fifty-two week low of $11.67 and a fifty-two week high of $41.87.

Analyst Ratings Changes

Several equities analysts recently weighed in on RNAC shares. BTIG Research started coverage on shares of Cartesian Therapeutics in a research note on Thursday, December 19th. They set a “buy” rating and a $42.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research note on Monday, January 27th. Finally, Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.86.

Insider Activity at Cartesian Therapeutics

In related news, CFO Blaine Davis sold 3,961 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $66,227.92. Following the transaction, the chief financial officer now directly owns 98,839 shares in the company, valued at approximately $1,652,588.08. This represents a 3.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Metin Kurtoglu sold 2,417 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.72, for a total transaction of $40,412.24. Following the transaction, the chief technology officer now owns 64,716 shares in the company, valued at $1,082,051.52. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,744 shares of company stock worth $247,337. Insiders own 57.90% of the company’s stock.

Cartesian Therapeutics Company Profile

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.