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Cartesian Therapeutics, Inc. (RNAC) Moves 26.9% Higher: Will This Strength Last?
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Cartesian Therapeutics, Inc. (RNAC - Free Report) shares soared 26.9% in the last trading session to close at $22.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 33.7% gain over the past four weeks.
The recent surge in the stock price is driven by positive investor expectations regarding the company's pipeline of novel mRNA cell therapy for autoimmune diseases. Cartesian is currently assessing its lead candidate, Descartes-08, in two separate phase II studies for the treatment of Myasthenia Gravis and systemic lupus erythematosus. RNAC’s clinical-stage pipeline comprises another candidate, Descartes-15, which is being evaluated in an early-stage study for multiple myeloma.
This company is expected to post quarterly loss of $0.78 per share in its upcoming report, which represents a year-over-year change of +67.5%. Revenues are expected to be $6 million, down 8.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cartesian Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RNAC going forward to see if this recent jump can turn into more strength down the road.
Cartesian Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Precision BioSciences (DTIL - Free Report) , closed the last trading session 4.2% higher at $9.53. Over the past month, DTIL has returned -7.7%.
Precision BioSciences' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.79. Compared to the company's year-ago EPS, this represents a change of +73.7%. Precision BioSciences currently boasts a Zacks Rank of #1 (Strong Buy).
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Cartesian Therapeutics, Inc. (RNAC) Moves 26.9% Higher: Will This Strength Last?
Cartesian Therapeutics, Inc. (RNAC - Free Report) shares soared 26.9% in the last trading session to close at $22.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 33.7% gain over the past four weeks.
The recent surge in the stock price is driven by positive investor expectations regarding the company's pipeline of novel mRNA cell therapy for autoimmune diseases. Cartesian is currently assessing its lead candidate, Descartes-08, in two separate phase II studies for the treatment of Myasthenia Gravis and systemic lupus erythematosus. RNAC’s clinical-stage pipeline comprises another candidate, Descartes-15, which is being evaluated in an early-stage study for multiple myeloma.
This company is expected to post quarterly loss of $0.78 per share in its upcoming report, which represents a year-over-year change of +67.5%. Revenues are expected to be $6 million, down 8.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cartesian Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RNAC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cartesian Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Precision BioSciences (DTIL - Free Report) , closed the last trading session 4.2% higher at $9.53. Over the past month, DTIL has returned -7.7%.
Precision BioSciences' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.79. Compared to the company's year-ago EPS, this represents a change of +73.7%. Precision BioSciences currently boasts a Zacks Rank of #1 (Strong Buy).