Leerink Partnrs Reiterates “Outperform” Rating for Cartesian Therapeutics (NASDAQ:RNAC)

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “outperform” rating reiterated by investment analysts at Leerink Partnrs in a research note issued to investors on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ FY2027 earnings at ($7.10) EPS.

RNAC has been the topic of a number of other reports. Needham & Company LLC started coverage on Cartesian Therapeutics in a research note on Tuesday, April 9th. They issued a “buy” rating and a $42.00 price target on the stock. HC Wainwright lifted their price target on Cartesian Therapeutics from $2.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, SVB Leerink started coverage on Cartesian Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $39.00 price target on the stock.

Cartesian Therapeutics Price Performance

Shares of Cartesian Therapeutics stock opened at $20.72 on Tuesday. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60. The business’s fifty day simple moving average is $19.29.

Cartesian Therapeutics (NASDAQ:RNAC) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($2.10). The company had revenue of $8.27 million during the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. As a group, equities analysts anticipate that Cartesian Therapeutics will post -1.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy A. Springer acquired 21,612 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $16.20 per share, for a total transaction of $350,114.40. Following the acquisition, the director now owns 1,017,228 shares of the company’s stock, valued at $16,479,093.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have purchased 22,472 shares of company stock valued at $365,981. Insiders own 31.20% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new position in shares of Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned about 0.98% of Cartesian Therapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 86.95% of the company’s stock.

Cartesian Therapeutics Company Profile

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.