Promising Potential of Cartesian Therapeutics’ Descartes-08 Therapy Drives Buy Rating

In a report released on May 9, Julian Harrison from BTIG maintained a Buy rating on Cartesian Therapeutics (RNAC – Research Report), with a price target of $42.00.

Julian Harrison has given his Buy rating due to a combination of factors that highlight the promising potential of Cartesian Therapeutics’ Descartes-08 therapy. The recent Phase 2b update for Descartes-08 in treating generalized myasthenia gravis (gMG) has shown unprecedented durability and a favorable safety profile, distinguishing it from DNA-based CAR-T therapies. This positive data suggests that if similar results are replicated in the upcoming Phase 3 trials, Descartes-08 could become a preferred treatment option.
Additionally, Cartesian Therapeutics is expected to initiate the Phase 3 AURORA trial for gMG in the second quarter of 2025, with initial data for systemic lupus erythematosus (SLE) anticipated in the second half of 2025. The company’s strong cash position, projected to support operations through the completion of the Phase 3 trial and into mid-2027, further supports the Buy rating. The potential for Descartes-08 to address unmet needs in B-cell mediated diseases like SLE and the ongoing progress of Descartes-15 in multiple myeloma also contribute to the positive outlook.

In another report released on May 9, Mizuho Securities also maintained a Buy rating on the stock with a $40.00 price target.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RNAC in relation to earlier this year.