Cantor Fitzgerald Predicts RNAC FY2024 Earnings

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Investment analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for shares of Cartesian Therapeutics in a report issued on Monday, December 2nd. Cantor Fitzgerald analyst K. Kluska forecasts that the company will post earnings per share of ($5.18) for the year. Cantor Fitzgerald has a “Hold” rating on the stock. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.07 per share.

Several other brokerages have also recently weighed in on RNAC. HC Wainwright dropped their price objective on Cartesian Therapeutics from $45.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Cartesian Therapeutics in a research note on Tuesday. Finally, TD Cowen assumed coverage on Cartesian Therapeutics in a research note on Tuesday, August 6th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.33.

Cartesian Therapeutics Trading Up 2.6 %

Shares of NASDAQ:RNAC opened at $20.08 on Wednesday. The stock’s fifty day simple moving average is $19.88 and its two-hundred day simple moving average is $19.73. Cartesian Therapeutics has a 1-year low of $11.66 and a 1-year high of $41.87. The stock has a market cap of $510.43 million, a PE ratio of -0.38 and a beta of 0.59.

Insider Buying and Selling

In other news, Director Timothy A. Springer acquired 5,514 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $17.38 per share, with a total value of $95,833.32. Following the acquisition, the director now owns 7,823,559 shares in the company, valued at $135,973,455.42. The trade was a 0.07 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Metin Kurtoglu sold 34,400 shares of Cartesian Therapeutics stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $18.39, for a total value of $632,616.00. Following the completion of the sale, the chief technology officer now directly owns 51,033 shares of the company’s stock, valued at approximately $938,496.87. This trade represents a 40.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,089 shares of company stock valued at $2,169,555. 57.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in Cartesian Therapeutics by 122.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after buying an additional 909 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Cartesian Therapeutics during the 2nd quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cartesian Therapeutics during the 2nd quarter valued at about $49,000. Barclays PLC grew its holdings in Cartesian Therapeutics by 208.6% during the 3rd quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Cartesian Therapeutics during the 2nd quarter valued at about $351,000. Hedge funds and other institutional investors own 86.95% 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.