Research Analysts Set Expectations for RNAC FY2029 Earnings

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Investment analysts at Leerink Partnrs issued their FY2029 EPS estimates for shares of Cartesian Therapeutics in a research report issued to clients and investors on Wednesday, February 5th. Leerink Partnrs analyst T. Smith anticipates that the company will post earnings of ($6.12) per share for the year. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.07 per share.

Several other analysts have also commented on the company. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, January 28th. BTIG Research started coverage on Cartesian Therapeutics in a research note on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target for the company. Cantor Fitzgerald upgraded Cartesian Therapeutics to a “hold” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.86.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC opened at $18.81 on Friday. The firm has a 50 day moving average of $19.28 and a 200 day moving average of $18.05. Cartesian Therapeutics has a 52 week low of $11.66 and a 52 week high of $41.87.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock worth $27,000 after buying an additional 909 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cartesian Therapeutics by 22.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock worth $82,000 after acquiring an additional 847 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Cartesian Therapeutics during the 4th quarter worth about $97,000. Rhumbline Advisers grew its position in shares of Cartesian Therapeutics by 10.0% during the 4th quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock valued at $183,000 after acquiring an additional 927 shares during the period. Finally, Barclays PLC increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Insider Buying and Selling

In other Cartesian Therapeutics news, insider Milos Miljkovic sold 35,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $16.13, for a total transaction of $564,550.00. Following the sale, the insider now directly owns 18,273 shares of the company’s stock, valued at approximately $294,743.49. This trade represents a 65.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blaine Davis sold 3,961 shares of the company’s stock in a transaction dated 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 owns 98,839 shares in the company, valued at $1,652,588.08. The trade was a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,833 shares of company stock valued at $2,416,892 over the last 90 days. 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.