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Cartesian Therapeutics
(NASDAQ:RNAC)
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Rating:44Neutral
Price Target:
$7.00
▼(-32.56% Downside)
Action:Reiterated
Date:09/29/26
The score is held down primarily by very weak financial performance (revenue collapse, large losses, ongoing cash burn, and negative equity) and bearish technicals (below key moving averages with negative MACD). A positive clinical event provides some upside support, but valuation metrics offer little help due to negative earnings and no dividend.
Positive Factors
Durable clinical benefit
Sustained symptom improvement after retreatment supports the potential durability of Descartes-08’s clinical benefit rather than a transient response. This may strengthen the program’s treatment profile, support advancement toward Phase 3, and improve its future commercialization prospects if larger studies confirm the results.
Negative Factors
Severe revenue contraction
The steep decline in revenue underscores that Cartesian remains pre-commercial and lacks a stable operating revenue base. Until a product or durable collaboration revenue stream emerges, the company’s financial outlook remains highly dependent on clinical execution and continued access to external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable clinical benefit
Sustained symptom improvement after retreatment supports the potential durability of Descartes-08’s clinical benefit rather than a transient response. This may strengthen the program’s treatment profile, support advancement toward Phase 3, and improve its future commercialization prospects if larger studies confirm the results.
Read all positive factors
Cartesian Therapeutics (RNAC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$222.68M
Dividend YieldN/A
Average Volume (3M)117.77K
Price to Earnings (P/E)―
Beta (1Y)2.75
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees75
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.93
Shares Outstanding30,255,352
10 Day Avg. Volume152,605
30 Day Avg. Volume117,766
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)-1.48
Price to Sales (P/S)66.95
P/FCF Ratio-2.36
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$32.60Price Target Upside214.07% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-2.99
Revenue Forecast (FY)$422.29K
Cartesian Therapeutics Business Overview & Revenue Model
Company Description
Cartesian Therapeutics, Inc., a clinical-stage biotechnology company, provides mRNA cell therapies for the treatment of autoimmune diseases. The company’s lead product candidate is Descartes-08, an autologous mRNA chimeric antigen receptor T-cell ...
How the Company Makes Money
Cartesian Therapeutics is a pre-commercial, clinical-stage biotechnology company. As of publicly available information up to my knowledge cutoff (2025-08), it does not have an approved product and therefore does not generate recurring product sale...
Cartesian Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
17
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.48M | 2.80M | 38.91M | 26.00M | 110.78M | 85.08M |
| Gross Profit | -11.32M | 2.80M | 38.91M | 26.00M | 108.74M | 85.08M |
| EBITDA | -157.60M | -136.54M | -75.99M | -235.03M | 39.84M | -5.16M |
| Net Income | -153.94M | -130.30M | -77.42M | -219.71M | 35.38M | -25.69M |
Balance Sheet | ||||||
| Total Assets | 318.63M | 296.41M | 435.02M | 305.05M | 165.89M | 159.88M |
| Cash, Cash Equivalents and Short-Term Investments | 147.61M | 125.14M | 212.61M | 76.91M | 134.60M | 128.06M |
| Total Debt | 63.85M | 12.68M | 13.98M | 10.96M | 37.92M | 35.28M |
| Total Liabilities | 443.85M | 422.65M | 441.82M | 745.23M | 72.06M | 137.36M |
| Stockholders Equity | -125.23M | -126.24M | -6.80M | -440.18M | 93.83M | 22.52M |
Cash Flow | ||||||
| Free Cash Flow | -78.16M | -79.39M | -32.77M | -51.37M | -32.83M | -61.47M |
| Operating Cash Flow | -76.07M | -73.94M | -23.67M | -51.16M | -31.63M | -60.38M |
| Investing Cash Flow | -2.08M | -5.45M | -8.74M | 34.61M | -15.00M | -17.14M |
| Financing Cash Flow | 50.25M | -8.05M | 168.43M | -13.14M | 39.22M | 52.90M |
Cartesian Therapeutics Technical Analysis
Negative
10.38
Price Trends
8.53
Negative
8.41
Negative
7.72
Negative
Market Momentum
-0.45
Positive
32.88
Neutral
19.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RNAC, the sentiment is Negative. The current price of 10.38 is above the 20-day moving average (MA) of 7.92, above the 50-day MA of 8.53, and above the 200-day MA of 7.72, indicating a bearish trend. The MACD of -0.45 indicates Positive momentum. The RSI at 32.88 is Neutral, neither overbought nor oversold. The STOCH value of 19.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RNAC.
Cartesian Therapeutics Risk Analysis
Cartesian Therapeutics disclosed 47 risk factors in its most recent earnings report. Cartesian Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cartesian Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $490.91M | 17.74 | 20.85% | ― | -2.86% | -46.26% | |
60 Neutral | $411.45M | -2.47 | -64.25% | ― | ― | -29.71% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $673.85M | -2.75 | -119.47% | ― | ― | 37.51% | |
46 Neutral | $150.96M | -1.35 | -57.92% | ― | -19.07% | 2.07% | |
44 Neutral | $222.68M | -1.24 | 141.41% | ― | ― | ― | |
41 Neutral | $1.11B | -0.06 | -91.63% | ― | ― | 69.48% |
* Healthcare Sector Average
RNAC
Cartesian Therapeutics
7.36
-2.64
-26.40%
PBYI
Puma Biotechnology
9.51
4.48
89.07%
DBVT
DBV Technologies SA - American
10.55
-2.74
-20.62%
VYGR
Voyager Therapeutics
2.45
-2.50
-50.51%
AVIR
Atea Pharmaceuticals
5.13
2.22
76.29%
VOR
Vor Biopharma
18.69
-16.99
-47.62%
Cartesian Therapeutics Corporate Events
Business Operations and Strategy
Cartesian Therapeutics Reports Encouraging Descartes-08 Retreatment Data
Positive
Sep 29, 2026
On September 29, 2026, Cartesian Therapeutics reported additional retreatment data from its Phase 2 trial of Descartes-08 in patients with generalized myasthenia gravis. In five patients who experienced symptom recurrence at least 12 months after ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.