Cartesian Therapeutics (NASDAQ:RNAC) Announces Earnings Results

Cartesian Therapeutics (NASDAQ:RNAC) posted its earnings results on Monday. The company reported ($3.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($2.75), FiscalAI reports. The business had revenue of $0.95 million for the quarter, compared to analyst estimates of $0.10 million.

Cartesian Therapeutics Stock Down 0.4%

Shares of NASDAQ:RNAC opened at $6.85 on Monday. The stock has a market capitalization of $178.10 million, a PE ratio of -4.39 and a beta of 0.41. The firm’s 50 day moving average price is $7.16 and its 200-day moving average price is $8.18. Cartesian Therapeutics has a twelve month low of $5.98 and a twelve month high of $18.80.

Insider Transactions at Cartesian Therapeutics

In other Cartesian Therapeutics news, CFO Blaine Davis sold 10,591 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $6.82, for a total transaction of $72,230.62. Following the completion of the sale, the chief financial officer directly owned 121,220 shares of the company’s stock, valued at approximately $826,720.40. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 60.30% of the company’s stock.

Institutional Investors Weigh In On Cartesian Therapeutics

A number of hedge funds have recently modified their holdings of RNAC. Vanguard Group Inc. increased its stake in shares of Cartesian Therapeutics by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 520,722 shares of the company’s stock worth $5,322,000 after purchasing an additional 24,356 shares in the last quarter. Geode Capital Management LLC lifted its position in Cartesian Therapeutics by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock valued at $1,843,000 after purchasing an additional 13,710 shares in the last quarter. Marshall Wace LLP grew its holdings in Cartesian Therapeutics by 110.1% during the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock valued at $1,284,000 after purchasing an additional 93,334 shares during the period. Millennium Management LLC grew its holdings in Cartesian Therapeutics by 548.2% during the fourth quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock valued at $1,185,000 after purchasing an additional 139,009 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Cartesian Therapeutics in the fourth quarter worth about $316,000. Institutional investors own 86.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of Cartesian Therapeutics from $40.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Monday, December 29th. HC Wainwright decreased their target price on shares of Cartesian Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, BTIG Research increased their price target on Cartesian Therapeutics from $42.00 to $44.00 and gave the company a “buy” rating in a report on Friday, November 14th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.50.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.