Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $1.35, Zacks reports. The firm had revenue of $33.45 million for the quarter, compared to analysts’ expectations of $6.00 million.
Cartesian Therapeutics Stock Up 3.9 %
Shares of RNAC traded up $0.50 during trading hours on Friday, hitting $13.37. The company had a trading volume of 49,521 shares, compared to its average volume of 111,382. The stock’s 50 day moving average price is $21.35 and its 200 day moving average price is $21.34. Cartesian Therapeutics has a 52-week low of $11.66 and a 52-week high of $42.60.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Leerink Partnrs restated an “outperform” rating on shares of Cartesian Therapeutics in a research report on Tuesday, April 23rd. HC Wainwright lowered their price target on Cartesian Therapeutics from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. TD Cowen assumed coverage on Cartesian Therapeutics in a research report on Tuesday, August 6th. They set a “buy” rating on the stock. Canaccord Genuity Group raised their price target on Cartesian Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, SVB Leerink began coverage on Cartesian Therapeutics in a research report on Tuesday, April 23rd. They set an “outperform” rating and a $39.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Cartesian Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $43.67.
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.