Cartesian Therapeutics (RNAC) Projected to Post Earnings on Thursday

Cartesian Therapeutics (NASDAQ:RNAC) will likely be posting its quarterly earnings results 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 Stock Performance

NASDAQ:RNAC opened at $18.03 on Thursday. The stock has a market capitalization of $458.23 million, a PE ratio of -0.34 and a beta of 0.61. Cartesian Therapeutics has a fifty-two week low of $11.67 and a fifty-two week high of $41.87. The company has a fifty day moving average of $18.78 and a two-hundred day moving average of $18.41.

Analyst Ratings Changes

RNAC has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $41.00 price target on shares of Cartesian Therapeutics in a research report on Monday, January 27th. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, January 28th. Cantor Fitzgerald raised Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, BTIG Research assumed coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cartesian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $42.86.

Insider Activity at Cartesian Therapeutics

In other Cartesian Therapeutics news, CTO Metin Kurtoglu sold 2,458 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $41,368.14. Following the completion of the sale, the chief technology officer now directly owns 62,258 shares in the company, valued at $1,047,802.14. This represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blaine Davis sold 3,961 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was 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 directly owns 98,839 shares of the company’s stock, valued at $1,652,588.08. This trade represents a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,744 shares of company stock valued at $247,337. 57.90% of the stock is currently owned by insiders.

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.