Cartesian Therapeutics (NASDAQ:RNAC) Given Outperform Rating at Leerink Partnrs

Leerink Partnrs reaffirmed their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC) in a research note issued to investors on Tuesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ FY2027 earnings at ($7.10) EPS.

RNAC has been the subject of several other reports. HC Wainwright lifted their price target on Cartesian Therapeutics from $2.00 to $54.00 and gave the company a buy rating in a research report on Tuesday. SVB Leerink assumed coverage on Cartesian Therapeutics in a research report on Tuesday. They issued an outperform rating and a $39.00 price target for the company. Finally, Needham & Company LLC assumed coverage on Cartesian Therapeutics in a research report on Tuesday, April 9th. They issued a buy rating and a $42.00 price target for the company.

Cartesian Therapeutics Price Performance

NASDAQ:RNAC opened at $20.59 on Tuesday. The stock has a fifty day moving average price of $19.32. Cartesian Therapeutics has a 1 year low of $11.66 and a 1 year high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last released its earnings results on Thursday, March 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($2.10). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%. The firm had revenue of $8.27 million during the quarter. On average, equities research analysts predict that Cartesian Therapeutics will post -1.5 EPS for the current fiscal year.

Insider Activity at Cartesian Therapeutics

In other Cartesian Therapeutics news, Director Timothy A. Springer acquired 21,612 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders acquired 22,472 shares of company stock valued at $365,981. Company 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) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 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.