Cartesian Therapeutics (NASDAQ:RNAC) Posts Earnings Results, Beats Estimates By $0.63 EPS

Cartesian Therapeutics (NASDAQ:RNAC) issued its earnings results on Thursday. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.63, FiscalAI reports.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC traded up $0.75 during trading hours on Friday, reaching $7.53. 121,614 shares of the company traded hands, compared to its average volume of 129,075. The firm’s 50-day moving average is $7.40 and its 200-day moving average is $7.64. The stock has a market cap of $227.78 million, a P/E ratio of -1.52 and a beta of 0.74. Cartesian Therapeutics has a 1-year low of $5.60 and a 1-year high of $11.00.

Analyst Ratings Changes

Several research analysts have issued reports on RNAC shares. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, August 18th. Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Cartesian Therapeutics in a research note on Wednesday, September 30th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, Inc (NASDAQ: RNAC) is a clinical-stage biotechnology company focused on developing mRNA cell therapies for autoimmune diseases. The company’s platform is designed to program a patient’s own immune cells with messenger RNA, enabling the development of cell therapies that are intended to provide targeted treatment without permanent genetic modification.

Cartesian’s lead product candidate is Descartes-08, an autologous CAR T-cell therapy that targets B-cell maturation antigen (BCMA).