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Cartesian Therapeutics
(NASDAQ:RNAC)
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Rating:55Neutral
Price Target:
$10.00
▲(42.05% Upside)
Action:Reiterated
Date:06/18/26
Overall score reflects financially high risk (deteriorating results, negative equity, and heavy cash burn) as the primary constraint. This is partly offset by strong technical momentum and supportive corporate actions (runway-extending financing and a strategic licensing alliance), while valuation remains limited by ongoing losses and no dividend.
Positive Factors
In‑vivo CAR‑T licensing alliance
The WestGene licensing alliance creates a structural pathway to generate CAR‑T in vivo using Cartesian’s mRNA payloads and WestGene’s LNP delivery. Eliminating ex‑vivo manufacturing can materially lower complexity and cost, accelerate timelines across programs, and expand the company’s addressable autoimmune indications over multiple years.
Negative Factors
Persistent heavy cash burn
Sustained negative operating and free cash flow at scale indicates the company cannot self‑fund development and will repeatedly rely on external financing. Over a multi‑quarter horizon, this creates recurring dilution or leverage risk, constrains strategic optionality, and forces prioritization of programs based on near‑term funding rather than long‑term potential.
Read all positive and negative factors
Positive Factors
Negative Factors
In‑vivo CAR‑T licensing alliance
The WestGene licensing alliance creates a structural pathway to generate CAR‑T in vivo using Cartesian’s mRNA payloads and WestGene’s LNP delivery. Eliminating ex‑vivo manufacturing can materially lower complexity and cost, accelerate timelines across programs, and expand the company’s addressable autoimmune indications over multiple years.
Read all positive factors
Cartesian Therapeutics (RNAC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$311.15M
Dividend YieldN/A
Average Volume (3M)358.02K
Price to Earnings (P/E)―
Beta (1Y)2.72
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees75
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.79
Shares Outstanding29,381,514
10 Day Avg. Volume743,292
30 Day Avg. Volume358,025
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)-1.48
Price to Sales (P/S)66.95
P/FCF Ratio-2.36
Enterprise Value/Market Cap0.59
Enterprise Value/Revenue103.38
Enterprise Value/Gross Profit-16.65
Enterprise Value/Ebitda-1.16
Forecast
1Y Price Target
$33.83Price Target Upside380.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-4.15
Revenue Forecast (FY)$549.50K
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
null...
Cartesian Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
28
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.77M | 2.80M | 38.91M | 26.00M | 110.78M | 85.08M |
| Gross Profit | -11.02M | 2.80M | 38.91M | 26.00M | 108.74M | 85.08M |
| EBITDA | -158.55M | -136.54M | -75.99M | -235.03M | 39.84M | -5.16M |
| Net Income | -151.77M | -130.30M | -77.42M | -219.71M | 35.38M | -25.69M |
Balance Sheet | ||||||
| Total Assets | 288.39M | 296.41M | 435.02M | 305.05M | 165.89M | 159.88M |
| Cash, Cash Equivalents and Short-Term Investments | 118.64M | 125.14M | 212.61M | 76.91M | 134.60M | 128.06M |
| Total Debt | 11.86M | 12.68M | 13.98M | 10.96M | 37.92M | 35.28M |
| Total Liabilities | 436.51M | 422.65M | 441.82M | 745.23M | 72.06M | 137.36M |
| Stockholders Equity | -148.12M | -126.24M | -6.80M | -440.18M | 93.83M | 22.52M |
Cash Flow | ||||||
| Free Cash Flow | -77.37M | -79.39M | -32.77M | -51.37M | -32.83M | -61.47M |
| Operating Cash Flow | -72.97M | -73.94M | -23.67M | -51.16M | -31.63M | -60.38M |
| Investing Cash Flow | -4.41M | -5.45M | -8.74M | 34.61M | -15.00M | -17.14M |
| Financing Cash Flow | 15.64M | -8.05M | 168.43M | -13.14M | 39.22M | 52.90M |
Cartesian Therapeutics Technical Analysis
Positive
7.04
Price Trends
7.82
Positive
7.33
Positive
7.70
Positive
Market Momentum
0.80
Negative
64.41
Neutral
72.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RNAC, the sentiment is Positive. The current price of 7.04 is below the 20-day moving average (MA) of 8.81, below the 50-day MA of 7.82, and below the 200-day MA of 7.70, indicating a bullish trend. The MACD of 0.80 indicates Negative momentum. The RSI at 64.41 is Neutral, neither overbought nor oversold. The STOCH value of 72.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RNAC.
Cartesian Therapeutics Risk Analysis
Cartesian Therapeutics disclosed 45 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $420.43M | 16.65 | 20.37% | ― | -2.38% | -37.13% | |
55 Neutral | $311.15M | -1.83 | 194.13% | ― | ― | ― | |
52 Neutral | $398.53M | -2.36 | -57.01% | ― | ― | -28.75% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.12B | -0.04 | 87.31% | ― | ― | -1004.74% | |
49 Neutral | $951.78M | -3.31 | -130.06% | ― | ― | 21.76% | |
44 Neutral | $228.39M | -1.91 | -55.97% | ― | -45.50% | -35.63% |
* Healthcare Sector Average
RNAC
Cartesian Therapeutics
10.59
-0.62
-5.53%
PBYI
Puma Biotechnology
8.26
4.72
133.33%
DBVT
DBV Technologies SA - American
15.82
4.22
36.38%
VYGR
Voyager Therapeutics
3.78
0.58
18.12%
AVIR
Atea Pharmaceuticals
4.98
1.34
36.81%
VOR
Vor Biopharma
20.59
-32.81
-61.44%
Cartesian Therapeutics Corporate Events
Executive/Board ChangesShareholder Meetings
Cartesian Therapeutics Shareholders Back Directors and Governance Measures
Positive
Jun 17, 2026
On June 12, 2026, Cartesian Therapeutics, Inc. held its 2026 Annual Meeting of Stockholders, where approximately 82.42% of outstanding common shares were represented, and stockholders elected three Class I directors, Michael Singer, Timothy A. Spr...
Business Operations and Strategy
Cartesian Therapeutics Announces In Vivo CAR-T Licensing Alliance
Positive
Jun 9, 2026
On June 9, 2026, Cartesian Therapeutics announced a strategic licensing agreement with WestGene Biopharma to develop in vivo CAR-T therapies for autoimmune diseases by combining Cartesian’s mRNA payloads, including Descartes-08, with WestGen...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Cartesian Secures Major Loan Facility to Extend Runway
Positive
May 26, 2026
On May 22, 2026, Cartesian Therapeutics entered into a senior secured loan and security agreement with K2 HealthVentures and other lenders for a credit facility of up to $150 million, including an initial $50 million tranche funded at closing and ...
Executive/Board Changes
Cartesian Therapeutics Announces Board Member Murat Kalayoglu Resignation
Neutral
Mar 30, 2026
On March 26, 2026, Cartesian Therapeutics, Inc. disclosed that Board member Murat Kalayoglu, M.D., Ph.D., intends to resign from the Board effective March 31, 2026, after serving since 2023. Kalayoglu, who chaired the Science and Technology Commit...
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.