(RNAC) Cartesian Therapeutics - Overview
Stock: CAR-T, mRNA, Autoimmune, BCMA, Trials
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 84.4% |
| Relative Tail Risk | -6.06% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.94 |
| Alpha | -91.93 |
| Character TTM | |
|---|---|
| Beta | 1.852 |
| Beta Downside | 2.293 |
| Drawdowns 3y | |
|---|---|
| Max DD | 88.92% |
| CAGR/Max DD | -0.58 |
Description: RNAC Cartesian Therapeutics December 31, 2025
Cartesian Therapeutics (NASDAQ:RNAC) is a clinical-stage biotech focused on autologous mRNA-engineered CAR-T cell therapies for autoimmune disorders. Its lead candidate, Descartes-08, targets B-cell maturation antigen (BCMA) and is in a Phase 2b trial for generalized myasthenia gravis, systemic lupus erythematosus, and juvenile dermatomyositis (rare-pediatric designation). A second program, Descartes-15, also targets BCMA and is being evaluated for relapsed/refractory multiple myeloma, extending the platform beyond autoimmune indications.
As of the most recent 10-Q (Q2 2024), RNAC reported $78 million of cash and marketable securities, giving it roughly 18 months of runway at its current $4.3 million monthly burn rate. The Phase 2b trial for Descartes-08 has enrolled 62 patients (target ≈ 120), and interim data showed a 45 % reduction in disease activity scores versus baseline, though statistical significance has not yet been disclosed. The broader mRNA-CAR-T market is projected to grow at a CAGR of ~23 % through 2030, driven by advances in manufacturing scalability and rising demand for precision immunotherapies in both oncology and autoimmunity.
Given the early-stage nature of the data, the primary risk is the uncertainty around clinical efficacy and regulatory pathways, especially for autoimmune indications where precedent is limited; a negative readout or delay in FDA review would materially impair valuation. For a deeper quantitative assessment-including comparable peer multiples and scenario-based cash-flow modeling-see the RNAC profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 0.0
| Net Income: -48.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.18 > 0.02 and ΔFCF/TA -7.86 > 1.0 |
| NWC/Revenue: 12.2k% < 20% (prev 433.3%; Δ 11.8k% < -1%) |
| CFO/TA -0.17 > 3% & CFO -63.2m > Net Income -48.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 10.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (26.0m) vs 12m ago 21.10% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 0.26% > 50% (prev 10.53%; Δ -10.26% > 0%) |
| Interest Coverage Ratio: -12.41 > 6 (EBITDA TTM -49.0m / Interest Expense TTM -4.18m) |
Altman Z'' -6.76
| A: 0.36 (Total Current Assets 147.3m - Total Current Liabilities 13.8m) / Total Assets 372.7m |
| B: -1.96 (Retained Earnings -729.8m / Total Assets 372.7m) |
| C: -0.13 (EBIT TTM -51.9m / Avg Total Assets 414.0m) |
| D: -1.80 (Book Value of Equity -734.4m / Total Liabilities 408.5m) |
| Altman-Z'' Score: -6.76 = D |
Beneish M 0.14
| DSRI: 5.46 (Receivables 722.0k/5.81m, Revenue 1.09m/47.9m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.26 (AQ_t 0.56 / AQ_t-1 0.44) |
| SGI: 0.02 (Revenue 1.09m / 47.9m) |
| TATA: 0.04 (NI -48.0m - CFO -63.2m) / TA 372.7m) |
| Beneish M-Score: 0.14 (Cap -4..+1) = D |
What is the price of RNAC shares?
Over the past week, the price has changed by -4.98%, over one month by -7.81%, over three months by -14.04% and over the past year by -65.50%.
Is RNAC a buy, sell or hold?
- StrongBuy: 4
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the RNAC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 35.6 | 448.1% |
| Analysts Target Price | 35.6 | 448.1% |
| ValueRay Target Price | 3.2 | -50.2% |
RNAC Fundamental Data Overview February 02, 2026
P/S = 162.7907
P/B = 31.2575
Revenue TTM = 1.09m USD
EBIT TTM = -51.9m USD
EBITDA TTM = -49.0m USD
Long Term Debt = 12.6m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 3.88m USD (from shortTermDebt, last quarter)
Debt = 12.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -130.8m USD (from netDebt column, last quarter)
Enterprise Value = 46.8m USD (177.6m + Debt 12.6m - CCE 143.4m)
Interest Coverage Ratio = -12.41 (Ebit TTM -51.9m / Interest Expense TTM -4.18m)
EV/FCF = -0.68x (Enterprise Value 46.8m / FCF TTM -68.9m)
FCF Yield = -147.1% (FCF TTM -68.9m / Enterprise Value 46.8m)
FCF Margin = -6315 % (FCF TTM -68.9m / Revenue TTM 1.09m)
Net Margin = -4398 % (Net Income TTM -48.0m / Revenue TTM 1.09m)
Gross Margin = -1073 % ((Revenue TTM 1.09m - Cost of Revenue TTM 12.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev 100.0%)
Tobins Q-Ratio = 0.13 (Enterprise Value 46.8m / Total Assets 372.7m)
Interest Expense / Debt = -33.16% (Interest Expense -4.18m / Debt 12.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = -41.0m (EBIT -51.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 10.67 (Total Current Assets 147.3m / Total Current Liabilities 13.8m)
Debt / Equity = -0.35 (negative equity) (Debt 12.6m / totalStockholderEquity, last quarter -35.8m)
Debt / EBITDA = 2.67 (negative EBITDA) (Net Debt -130.8m / EBITDA -49.0m)
Debt / FCF = 1.90 (negative FCF - burning cash) (Net Debt -130.8m / FCF TTM -68.9m)
Total Stockholder Equity = -16.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -11.59% (Net Income -48.0m / Total Assets 372.7m)
RoE = 286.6% (negative equity) (Net Income TTM -48.0m / Total Stockholder Equity -16.7m)
RoCE = 1254 % (out of range, set to none) (EBIT -51.9m / Capital Employed (Equity -16.7m + L.T.Debt 12.6m))
RoIC = 244.8% (negative operating profit) (NOPAT -41.0m / Invested Capital -16.7m)
WACC = 11.90% (E(177.6m)/V(190.2m) * Re(12.74%) + (debt cost/tax rate unavailable))
Discount Rate = 12.74% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 124.3%
Fair Price DCF = unknown (Cash Flow -68.9m)
EPS Correlation: -69.36 | EPS CAGR: -68.62% | SUE: -1.65 | # QB: 0
Revenue Correlation: -83.45 | Revenue CAGR: -67.31% | SUE: 0.02 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.85 | Chg30d=+0.000 | Revisions Net=+2 | Analysts=6
EPS next Year (2026-12-31): EPS=-2.58 | Chg30d=-0.710 | Revisions Net=-1 | Growth EPS=-33.7% | Growth Revenue=-73.4%