Cartesian Therapeutics (NASDAQ:RNAC) Posts Quarterly Earnings Results, Beats Expectations By $0.63 EPS

Cartesian Therapeutics (NASDAQ:RNAC) posted its quarterly earnings results on Thursday. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.63, FiscalAI reports.

Cartesian Therapeutics Price Performance

Shares of RNAC stock traded up $0.75 during midday trading on Friday, hitting $7.53. The company had a trading volume of 121,614 shares, compared to its average volume of 129,075. The company’s 50 day simple moving average is $7.40 and its 200 day simple moving average is $7.64. Cartesian Therapeutics has a 52-week low of $5.60 and a 52-week high of $11.00. The stock has a market cap of $227.78 million, a price-to-earnings ratio of -1.52 and a beta of 0.74.

Wall Street Analyst Weigh In

RNAC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cartesian Therapeutics in a research report on Wednesday, September 9th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a research report on Tuesday, August 18th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday, September 29th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Cartesian Therapeutics in a research report on Wednesday, September 30th. Finally, Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

About Cartesian Therapeutics

Cartesian Therapeutics, Inc (NASDAQ: RNAC) is a clinical-stage biotechnology company focused on developing mRNA cell therapies for autoimmune diseases. The company’s platform is designed to program a patient’s own immune cells with messenger RNA, enabling the development of cell therapies that are intended to provide targeted treatment without permanent genetic modification.

Cartesian’s lead product candidate is Descartes-08, an autologous CAR T-cell therapy that targets B-cell maturation antigen (BCMA).