Cartesian Therapeutics (RNAC) to Release Earnings on Thursday

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

Cartesian Therapeutics Price Performance

RNAC opened at $17.84 on Wednesday. Cartesian Therapeutics has a fifty-two week low of $11.67 and a fifty-two week high of $41.87. The firm has a market capitalization of $453.40 million, a PE ratio of -0.34 and a beta of 0.71. The company’s 50-day moving average is $18.70 and its 200 day moving average is $18.57.

Insider Activity at Cartesian Therapeutics

In other news, CTO Metin Kurtoglu sold 2,458 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.83, for a total transaction of $41,368.14. Following the completion of the transaction, the chief technology officer now directly owns 62,258 shares of the company’s stock, valued at $1,047,802.14. This represents a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blaine Davis sold 4,028 shares of Cartesian Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total transaction of $67,791.24. Following the completion of the sale, the chief financial officer now directly owns 94,811 shares in the company, valued at $1,595,669.13. This trade represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,744 shares of company stock worth $247,337. 57.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

About Cartesian Therapeutics

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.