Cartesian Therapeutics (NASDAQ:RNAC) Posts Earnings Results, Beats Expectations By $1.34 EPS

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

Cartesian Therapeutics Trading Up 1.0%

RNAC traded up $0.09 on Friday, reaching $8.85. The stock had a trading volume of 83,713 shares, compared to its average volume of 140,879. The business’s 50-day moving average price is $8.58 and its two-hundred day moving average price is $7.55. The company has a market cap of $260.01 million, a P/E ratio of -1.49 and a beta of 0.63. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $12.25.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Cartesian Therapeutics in a research note on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and set a $44.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a report on Tuesday, June 9th. Finally, HC Wainwright lowered their price objective on Cartesian Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of institutional investors have recently modified their holdings of the business. Marshall Wace LLP raised its holdings 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 purchasing an additional 93,334 shares during the period. Walleye Capital LLC acquired a new stake in Cartesian Therapeutics in the fourth quarter valued at approximately $316,000. Renaissance Technologies LLC acquired a new stake in Cartesian Therapeutics in the fourth quarter valued at approximately $296,000. Geode Capital Management LLC increased its position in shares of Cartesian Therapeutics by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock valued at $1,843,000 after buying an additional 13,710 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Cartesian Therapeutics in the third quarter valued at approximately $259,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.

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.