Cartesian Therapeutics, Inc. (RNAC) AI Stock Analysis

Cartesian Therapeutics, Inc. is a clinical-stage biotechnology company specializing in mRNA cell therapies tailored for the treatment of autoimmune diseases. Headquartered in Gaithersburg, Maryland, the company engineers RNA therapies, led by Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy. Descartes-08 is in Phase 2b clinical development for generalized myasthenia gravis, and is also evaluated in systemic lupus erythematosus and myeloma autoimmune basket trials. Additionally, Cartesian Therapeutics is developing Descartes-15 for autoimmune diseases and myeloma, and Descartes-33 in preclinical stages for autoimmune disorders, collaborating with experts to advance its therapeutic pipeline.

Cartesian Therapeutics saw revenue drop from $110.8M in FY2022 to $26.0M in FY2023, before climbing to $38.9M in FY2024 and then declining 92.8% to $2.8M in FY2025. Over the 5-year period from FY2020 to FY2025, revenue posted a CAGR of -30.0%. Operating margin stood at -3099.9% in FY2025, with net income falling to -$130.3M and EPS at -$3.59. For the trailing twelve months ended June 30, 2026, revenue was $1.5M, operating margin was -6679.7%, and EPS was -$5.78. In the quarter ended June 30, 2026, quarterly revenue fell 92.9% year-over-year, while quarterly earnings contracted 8.0%.

As of June 30, 2026, the company held $147.6M in cash and short-term investments against total debt of $63.9M, leaving net cash of $83.8M. Total assets stood at $318.6M, with a current ratio of 7.48. Shareholders' equity was negative at -$125.2M. For FY2025, free cash flow was -$79.4M, operating cash flow was -$73.9M, and capital expenditures totaled $5.5M. The company's 5-year share count change was 677.8%.

Cartesian Therapeutics holds a market cap of $189.7M and an enterprise value of $154.4M. Its price-to-sales ratio of 128.4x trades well above the 4.1x median of its US-listed Healthcare peers. The company's forward P/E ratio is 25.1x, compared to the peer median of 17.3x, while its EV-to-EBITDA stands at 1.8x versus the peer median of 12.0x. Over the past year, the stock fell 33.4%, trailing the S&P 500 (SPY) gain of 16.8%. Over a 5-year period, the stock fell 95.1% while SPY gained 83.0%.

Wall Street coverage includes 6 Strong Buy ratings, 1 Buy rating, and zero Hold, Sell, or Strong Sell ratings. The mean price target is $33.67, representing a 436.9% premium over the October 16, 2026 closing price of $6.27. For the fiscal year ending December 31, 2026, analysts estimate revenue of $419,140 and EPS of -$2.78. Over the last four quarters, Cartesian Therapeutics beat EPS estimates once. The company's next earnings date is November 5, 2026.

This page is an AI-written research summary of Cartesian Therapeutics, Inc. (RNAC). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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