Cartesian Therapeutics (NASDAQ:RNAC) Issues Quarterly Earnings Results, Beats Estimates By $1.34 EPS

Cartesian Therapeutics (NASDAQ:RNAC) issued its quarterly earnings data on Thursday. The company reported $0.46 EPS for the quarter, beating the consensus estimate of ($0.88) by $1.34, Zacks reports.

Cartesian Therapeutics Price Performance

Shares of Cartesian Therapeutics stock traded up $0.09 during trading on Friday, hitting $8.85. The company’s stock had a trading volume of 83,713 shares, compared to its average volume of 140,879. Cartesian Therapeutics has a 52 week low of $5.60 and a 52 week high of $12.25. The stock has a market cap of $260.01 million, a price-to-earnings ratio of -1.49 and a beta of 0.63. The stock has a 50-day moving average price of $8.58 and a two-hundred day moving average price of $7.55.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Marshall Wace LLP grew its position in shares of Cartesian Therapeutics by 110.1% in the 4th quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock valued at $1,284,000 after buying an additional 93,334 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Cartesian Therapeutics during the fourth quarter worth about $316,000. Renaissance Technologies LLC bought a new position in shares of Cartesian Therapeutics during the fourth quarter worth about $296,000. Geode Capital Management LLC lifted its stake in shares of Cartesian Therapeutics by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 255,539 shares of the company’s stock worth $1,843,000 after acquiring an additional 13,710 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Cartesian Therapeutics in the third quarter worth approximately $259,000. 86.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on RNAC. Wall Street Zen upgraded Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of Cartesian Therapeutics in a research report on Wednesday, June 10th. Zacks Research raised Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. BTIG Research reiterated a “buy” rating and issued a $44.00 target price on shares of Cartesian Therapeutics in a research report on Tuesday, June 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cartesian Therapeutics in a research note on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

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.