FY2024 Earnings Estimate for RNAC Issued By Leerink Partnrs

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Equities research analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for Cartesian Therapeutics in a research note issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now forecasts that the company will post earnings of $4.85 per share for the year, up from their previous estimate of $3.88. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ FY2025 earnings at ($4.20) EPS, FY2026 earnings at ($4.73) EPS, FY2027 earnings at ($6.34) EPS and FY2028 earnings at ($6.55) EPS.

A number of other analysts have also recently issued reports on RNAC. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. BTIG Research initiated 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. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Cartesian Therapeutics in a research note on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Cartesian Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $42.86.

Cartesian Therapeutics Price Performance

Shares of Cartesian Therapeutics stock opened at $18.51 on Monday. The company has a market capitalization of $470.43 million, a P/E ratio of -0.35 and a beta of 0.61. The business has a 50-day moving average of $19.29 and a two-hundred day moving average of $18.08. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $41.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in Cartesian Therapeutics by 458.3% in the 3rd quarter. FMR LLC now owns 2,851,830 shares of the company’s stock valued at $45,972,000 after acquiring an additional 2,341,054 shares during the period. BNP Paribas Financial Markets grew its position in shares of Cartesian Therapeutics by 122.5% in the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after purchasing an additional 909 shares during the last quarter. State Street Corp increased its stake in shares of Cartesian Therapeutics by 2.5% during the third quarter. State Street Corp now owns 157,495 shares of the company’s stock worth $2,539,000 after purchasing an additional 3,830 shares during the period. Great Point Partners LLC acquired a new stake in Cartesian Therapeutics during the 3rd quarter worth approximately $3,224,000. Finally, Barclays PLC boosted its stake in Cartesian Therapeutics by 208.6% in the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after purchasing an additional 7,849 shares during the period. 86.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CTO Metin Kurtoglu sold 2,417 shares of Cartesian Therapeutics stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $16.72, for a total transaction of $40,412.24. Following the completion of the transaction, the chief technology officer now owns 64,716 shares in the company, valued at approximately $1,082,051.52. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Blaine Davis sold 3,961 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $16.72, for a total value of $66,227.92. Following the completion of the sale, the chief financial officer now owns 98,839 shares in the company, valued at $1,652,588.08. This represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,833 shares of company stock worth $2,416,892 in the last quarter. Corporate insiders own 57.90% of the company’s stock.

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.