Cartesian Therapeutics (RNAC) AI Stock Analysis

• Market Cap: $187.75M
• Dividend Yield: N/A
• Average Volume (3M): 180.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.27
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 66
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.38
• Shares Outstanding: 26,003,607
• 10 Day Avg. Volume: 274,035
• 30 Day Avg. Volume: 180,196
• PEG Ratio: 0.06
• Price to Book (P/B): -68.21
• Price to Sales (P/S): 11.92
• P/FCF Ratio: -14.16
• Enterprise Value/Market Cap: 0.72
• Enterprise Value/Revenue: 123.71
• Enterprise Value/Gross Profit: -11.53
• Enterprise Value/Ebitda: -2.75
• 1Y Price Target: $34.67
• Price Target Upside: 380.19% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -2.27
• Revenue Forecast (FY): $1.97M

• Rating: 46 Neutral
• Price Target: $7.50 ▲(3.88% Upside)

Cartesian Therapeutics' overall stock score is primarily impacted by its weak financial performance and valuation, both of which are critical concerns. However, positive corporate events provide some optimism for future strategic direction and operational improvements.

Positive Factors

Promising Clinical Trial Results

The positive Phase 2 trial results for Descartes-08 indicate potential for successful treatment options, enhancing Cartesian's market position in RNA-based therapeutics.

Strategic Leadership Changes

New leadership with Carsten Brunn as Chairman is expected to drive strategic focus on advancing the cell therapy pipeline, potentially leading to regulatory submissions and commercial launches.

New Financial Leadership

The appointment of June Seymour as CAO is anticipated to bolster financial operations, supporting strategic growth and improving financial health in the life sciences sector.

Negative Factors

Negative Equity

Negative equity indicates financial instability, which can hinder Cartesian's ability to secure financing and invest in long-term growth opportunities.

Negative Cash Flow

Negative operating cash flow suggests challenges in sustaining operations without external funding, impacting long-term financial sustainability.

Profitability Challenges

Ongoing profitability issues highlight cost management challenges, which need addressing to improve financial health and support strategic initiatives.

Cartesian Therapeutics Business Overview & Revenue Model

Company Description

Cartesian Therapeutics (RNAC) is a biotechnology company focused on developing innovative RNA-based therapeutics for the treatment of serious diseases. The company operates in the biopharmaceutical sector, leveraging its proprietary RNA platform to create targeted therapies aimed at addressing unmet medical needs in areas such as oncology and autoimmune disorders. Cartesian Therapeutics' core products include engineered RNA medicines designed to enhance the therapeutic potential of traditional treatments and improve patient outcomes.

How the Company Makes Money

Cartesian Therapeutics generates revenue primarily through a combination of product development, partnerships, and potential licensing agreements. The company often collaborates with larger pharmaceutical companies to co-develop therapies, which can provide upfront payments, milestone payments upon achieving specific development goals, and royalties on future sales of approved products. Additionally, Cartesian may receive funding from government grants or venture capital investments aimed at supporting the research and development of its innovative RNA therapies. Successful clinical trials and subsequent FDA approvals can significantly boost revenue potential, as the company moves toward commercialization of its products.

Cartesian Therapeutics Financial Statement Overview

Summary

Cartesian Therapeutics is facing significant financial challenges, with negative profitability and equity issues. Despite some positive signs in cash flow management, the overall financial health of the company is concerning, reflecting the typical high-risk, high-investment phase of biotechnology firms.

Income Statement

Cartesian Therapeutics shows a challenging income statement with negative net profit margins and EBIT margins over the TTM period. Despite a slight revenue growth, the company struggles with profitability, indicated by consistently negative EBIT and net income figures. The biotechnology industry often faces such challenges due to high R&D costs and long product development cycles.

Balance Sheet

The balance sheet reveals a negative stockholders' equity, leading to an unfavorable debt-to-equity ratio. This indicates financial instability and potential risk for investors. However, the company has a substantial asset base, which might provide some cushion against liabilities. The return on equity is negative, reflecting the company's struggle to generate returns for shareholders.

Cash Flow

The cash flow statement shows a negative operating cash flow, indicating operational challenges. However, the free cash flow to net income ratio is positive, suggesting that the company is managing its cash flow better than its net income might suggest. The free cash flow growth is positive, which is a favorable sign, but the overall cash flow position remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.09M	38.91M	26.00M	110.78M	85.08M	16.60M
Gross Profit	-11.71M	38.91M	26.00M	108.74M	85.08M	16.60M
EBITDA	-49.03M	-75.99M	-235.03M	39.84M	-5.16M	-65.59M
Net Income	-47.98M	-77.42M	-219.71M	35.38M	-25.69M	-68.88M
Balance Sheet
Total Assets	372.68M	435.02M	305.05M	165.89M	159.88M	165.44M
Cash, Cash Equivalents and Short-Term Investments	143.38M	212.61M	76.91M	134.60M	128.06M	138.69M
Total Debt	12.60M	13.98M	10.96M	37.92M	35.28M	35.35M
Total Liabilities	408.52M	441.82M	745.23M	72.06M	137.36M	183.44M
Stockholders Equity	-35.84M	-6.80M	-440.18M	93.83M	22.52M	-18.01M
Cash Flow
Free Cash Flow	-68.90M	-32.77M	-51.37M	-32.83M	-61.47M	34.07M
Operating Cash Flow	-63.23M	-23.67M	-51.16M	-31.63M	-60.38M	34.88M
Investing Cash Flow	-5.32M	-8.74M	34.61M	-15.00M	-17.14M	-741.00K
Financing Cash Flow	-7.22M	168.43M	-13.14M	39.22M	52.90M	14.43M

Cartesian Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 7.22 is below the 20-day moving average (MA) of 7.51, below the 50-day MA of 7.99, and below the 200-day MA of 10.60, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 44.01 is Neutral, neither overbought nor oversold. The STOCH value of 20.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RNAC.

Cartesian Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PBYI	69 Neutral	$283.70M	7.60	39.69%	―	-12.96%	56.02%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DBVT	48 Neutral	$846.65M	-4.34	-234.58%	―	―	1.29%
AVIR	47 Neutral	$245.32M	-1.77	-37.98%	―	―	14.33%
RNAC	46 Neutral	$187.75M	-0.14	―	―	―	―
VYGR	46 Neutral	$222.40M	-1.84	-46.09%	―	-80.88%	-388.61%
VOR	33 Underperform	$271.91M	―	―	―	―	-1072.48%

Cartesian Therapeutics Corporate Events

Cartesian Therapeutics Reports Promising Phase 2 Trial Results

On November 13, 2025, Cartesian Therapeutics announced promising initial data from its Phase 2 trial of Descartes-08 for systemic lupus erythematosus (SLE), showing significant reductions in disease activity and favorable safety profiles. The company plans to expand Descartes-08 into myositis, with a Phase 2 trial set to begin in the first half of 2026, while pausing further development in SLE to focus on myasthenia gravis and myositis.

Cartesian Therapeutics Announces Leadership Changes

On October 29, 2025, Carrie S. Cox resigned from her roles at Cartesian Therapeutics to focus on her new appointment as Executive Chair of another company. Her departure led to the appointment of Carsten Brunn, Ph.D., as Chairman of the Board, with Patrick Zenner as Lead Independent Director and Kemal Malik as Chairman of the Compensation Committee. The company also amended its bylaws to reflect these changes. These leadership changes are expected to support Cartesian’s strategic focus on advancing its cell therapy pipeline, particularly Descartes-08, towards regulatory submission and potential commercial launch.

Cartesian Therapeutics Eliminates Chief Scientific Officer Role

On October 15, 2025, Cartesian Therapeutics, Inc. announced the elimination of the Chief Scientific Officer position, leading to the termination of Christopher Jewell, Ph.D., effective November 14, 2025. The company and Dr. Jewell entered into a separation agreement on October 20, 2025, which includes severance payments and benefits in exchange for releasing any claims against the company, reflecting a strategic shift in the company’s operations.

Cartesian Therapeutics Appoints New Chief Accounting Officer

On October 2, 2025, Cartesian Therapeutics appointed June Seymour as Chief Accounting Officer, effective October 27, 2025. Ms. Seymour brings extensive financial leadership experience from her previous roles at DNAnexus, Neogene Therapeutics, and Autolus Ltd. Her appointment includes a comprehensive employment agreement outlining her salary, bonuses, and stock options, as well as non-compete and non-solicitation clauses. This strategic hire is expected to enhance the company’s financial operations and strengthen its position in the life sciences industry.