FY2029 Earnings Estimate for RNAC Issued By Leerink Partnrs

Cartesian Therapeutics, Inc. (NASDAQ:RNAC) – Stock analysts at Leerink Partnrs issued their FY2029 earnings estimates for Cartesian Therapeutics in a report issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith anticipates that the company will earn ($6.12) per share for the year. The consensus estimate for Cartesian Therapeutics’ current full-year earnings is $4.07 per share.

Several other equities analysts also recently commented on RNAC. Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Cartesian Therapeutics in a research report on Monday, January 27th. BTIG Research started coverage on Cartesian Therapeutics in a report on Thursday, December 19th. They issued a “buy” rating and a $42.00 price target on the stock. Cantor Fitzgerald raised shares of Cartesian Therapeutics to a “hold” rating in a report on Monday, December 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.86.

Cartesian Therapeutics Price Performance

Shares of RNAC stock opened at $18.36 on Friday. Cartesian Therapeutics has a one year low of $11.66 and a one year high of $41.87. The company’s fifty day moving average price is $19.30 and its 200-day moving average price is $18.06. The company has a market capitalization of $466.71 million, a price-to-earnings ratio of -0.35 and a beta of 0.61.

Insiders Place Their Bets

In other news, CTO Metin Kurtoglu sold 2,458 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $16.83, for a total value of $41,368.14. Following the completion of the sale, the chief technology officer now directly owns 62,258 shares of the company’s stock, valued at $1,047,802.14. This trade represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Blaine Davis sold 3,961 shares of Cartesian Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $16.72, for a total value of $66,227.92. Following the completion of the transaction, the chief financial officer now owns 98,839 shares of the company’s stock, valued at approximately $1,652,588.08. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,833 shares of company stock valued at $2,416,892 in the last three months. Corporate insiders own 57.90% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A number of institutional investors have recently bought and sold shares of RNAC. BNP Paribas Financial Markets increased its position in Cartesian Therapeutics by 122.5% during the third quarter. BNP Paribas Financial Markets now owns 1,651 shares of the company’s stock valued at $27,000 after acquiring an additional 909 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cartesian Therapeutics by 22.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,562 shares of the company’s stock valued at $82,000 after purchasing an additional 847 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Cartesian Therapeutics in the 4th quarter worth about $97,000. Rhumbline Advisers lifted its stake in Cartesian Therapeutics by 10.0% in the fourth quarter. Rhumbline Advisers now owns 10,201 shares of the company’s stock worth $183,000 after purchasing an additional 927 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Cartesian Therapeutics by 208.6% during the third quarter. Barclays PLC now owns 11,611 shares of the company’s stock valued at $188,000 after buying an additional 7,849 shares during the period. 86.95% of the stock is currently owned by institutional investors.

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.