Leerink Partnrs Reiterates Outperform Rating for Cartesian Therapeutics (NASDAQ:RNAC)

Cartesian Therapeutics (NASDAQ:RNAC)‘s stock had its “outperform” rating restated by equities research analysts at Leerink Partnrs in a research report issued on Tuesday, Zacks.com reports. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ FY2027 earnings at ($7.10) EPS.

A number of other research firms have also issued reports on RNAC. HC Wainwright boosted their target price on shares of Cartesian Therapeutics from $2.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 9th. They issued a “buy” rating and a $42.00 price target for the company. Finally, SVB Leerink initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $39.00 price target for the company.

Cartesian Therapeutics Stock Up 12.8 %

Cartesian Therapeutics stock opened at $20.59 on Tuesday. The firm’s 50-day moving average price is $19.32. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $42.60.

Cartesian Therapeutics (NASDAQ:RNAC) last posted 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). The firm had revenue of $8.27 million for the quarter. Cartesian Therapeutics had a negative net margin of 845.01% and a negative return on equity of 58.21%. Equities analysts forecast that Cartesian Therapeutics will post -1.5 EPS for the current fiscal year.

Insider Transactions at Cartesian Therapeutics

In related news, Director Timothy A. Springer purchased 21,612 shares of Cartesian Therapeutics stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $16.20 per share, with a total value of $350,114.40. Following the purchase, the director now owns 1,017,228 shares in the company, valued at approximately $16,479,093.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders purchased 22,472 shares of company stock valued at $365,981. Company insiders own 31.20% of the company’s stock.

Institutional Trading of Cartesian Therapeutics

A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee bought a new position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned approximately 0.98% of Cartesian Therapeutics at the end of the most recent reporting 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.