Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.63, FiscalAI reports.
Cartesian Therapeutics Stock Performance
Shares of Cartesian Therapeutics stock traded up $0.75 during trading on Friday, hitting $7.53. 121,614 shares of the stock were exchanged, compared to its average volume of 129,075. Cartesian Therapeutics has a 12 month low of $5.60 and a 12 month high of $11.00. The stock’s fifty day moving average is $7.40 and its 200 day moving average is $7.64. The stock has a market cap of $227.78 million, a PE ratio of -1.52 and a beta of 0.74.
Analyst Ratings Changes
RNAC has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Cartesian Therapeutics in a report on Tuesday, August 18th. Zacks Research raised shares of Cartesian Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Cartesian Therapeutics in a research report on Tuesday, September 29th. Wall Street Zen upgraded shares of Cartesian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Cartesian Therapeutics in a report on Wednesday, September 30th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.60.
Check Out Our Latest Stock Report on RNAC
About Cartesian Therapeutics
Cartesian Therapeutics, Inc (NASDAQ: RNAC) is a clinical-stage biotechnology company focused on developing mRNA cell therapies for autoimmune diseases. The company’s platform is designed to program a patient’s own immune cells with messenger RNA, enabling the development of cell therapies that are intended to provide targeted treatment without permanent genetic modification.
Cartesian’s lead product candidate is Descartes-08, an autologous CAR T-cell therapy that targets B-cell maturation antigen (BCMA).
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