Overview Dividends

(RNAC) Cartesian Therapeutics - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US8162121045

CAR-T, mRNA, Autoimmune, BCMA, Clinical Trials

RNAC EPS (Earnings per Share)

EPS Growth (3Y CAGR): -61.69%
EPS Trend (3Y Correlation): -53.4%

RNAC Revenue

Revenue Growth (3Y CAGR): -78.61%
Revenue Trend (3Y Correlation): -73.2%

Description: RNAC Cartesian Therapeutics October 27, 2025

Cartesian Therapeutics (NASDAQ: RNAC) is a clinical-stage biotech focused on autologous mRNA-based CAR-T therapies targeting B-cell maturation antigen (BCMA) for autoimmune indications, with its lead candidate Descartes-08 currently in a Phase 2b trial for generalized myasthenia gravis, systemic lupus erythematosus, and juvenile dermatomyositis (rare-pediatric-disease designation). Descartes-15, a second anti-BCMA mRNA CAR-T, is being positioned for relapsed/refractory multiple myeloma, expanding the company’s pipeline beyond autoimmune disease.

Key performance indicators as of Q2 2024 include a cash runway of roughly $120 million, a burn rate of ~$30 million per quarter, and enrollment of 45 patients in the Descartes-08 Phase 2b study-metrics that together set the timeline for a potential read-out by early 2025. The company’s R&D spend has risen 18 % YoY, reflecting accelerated pre-clinical work on Descartes-15.

Sector-wide, the mRNA therapeutic market is projected to grow at a CAGR of ~15 % through 2030, driven by rapid platform adoption post-COVID-19 and expanding payer acceptance of cell-based therapies. However, the high cost of autologous manufacturing and uncertain reimbursement pathways for autoimmune CAR-T treatments remain material risk factors.

For a deeper, data-driven assessment of RNAC’s valuation assumptions and scenario analysis, you may find the research tools on ValueRay useful.

RNAC Stock Overview

Market Cap in USD	238m
Sub-Industry	Biotechnology
IPO / Inception	2016-06-22

RNAC Stock Ratings

Growth Rating	-90.0%
Fundamental	32.0%
Dividend Rating	-
Return 12m vs S&P 500	-65.0%
Analyst Rating	4.25 of 5

RNAC Dividends

Currently no dividends paid

RNAC Growth Ratios

Growth Correlation 3m	-85.6%
Growth Correlation 12m	-84%
Growth Correlation 5y	-93.8%
CAGR 5y	-44.74%
CAGR/Max DD 3y (Calmar Ratio)	-0.52
CAGR/Mean DD 3y (Pain Ratio)	-0.80
Sharpe Ratio 12m	-2.10
Alpha	-78.26
Beta	0.832
Volatility	74.60%
Current Volume	115.6k
Average Volume 20d	97.1k
Stop Loss	7.5 (-7.7%)
Signal	-0.56

Piotroski VR‑10 (Strict, 0-10) 0.0

Net Income (-36.3m TTM) > 0 and > 6% of Revenue (6% = 61.6k TTM)

FCFTA -0.11 (>2.0%) and ΔFCFTA 7.28pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 14.7k% (prev 182.4%; Δ 14.5kpp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.09 (>3.0%) and CFO -33.9m > Net Income -36.3m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 13.33 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (26.4m) change vs 12m ago 48.65% (target <= -2.0% for YES)

Gross Margin 72.12% (prev 99.00%; Δ -26.88pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 0.28% (prev 15.56%; Δ -15.28pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -1.85 (EBITDA TTM -75.9m / Interest Expense TTM -42.5m) >= 6 (WARN >= 3)

Altman Z'' -6.57

(A) 0.39 = (Total Current Assets 163.4m - Total Current Liabilities 12.3m) / Total Assets 388.9m

(B) -1.78 = Retained Earnings (Balance) -693.9m / Total Assets 388.9m

warn (B) unusual magnitude: -1.78 — check mapping/units

(D) -1.78 = Book Value of Equity -698.5m / Total Liabilities 391.4m

Total Rating: -6.57 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 31.96

1. Piotroski 0.0pt = -5.0

2. FCF Yield -48.81% = -5.0

3. FCF Margin data missing

4. Debt/Equity -5.28 = -2.50

5. Debt/Ebitda 1.94 = 0.13

7. RoE 477.6% = 2.50

8. Rev. Trend -73.21% = -5.49

9. EPS Trend -53.44% = -2.67

What is the price of RNAC shares?

As of November 04, 2025, the stock is trading at USD 8.13 with a total of 115,647 shares traded.
Over the past week, the price has changed by -8.14%, over one month by -20.22%, over three months by -34.86% and over the past year by -57.46%.

Is Cartesian Therapeutics a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Cartesian Therapeutics (NASDAQ:RNAC) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 31.96 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of RNAC is around 4.15 USD . This means that RNAC is currently overvalued and has a potential downside of -48.95%.

Is RNAC a buy, sell or hold?

Cartesian Therapeutics has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy RNAC.

Strong Buy: 4
Buy: 2
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the RNAC price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	36.4	348.1%
Analysts Target Price	36.4	348.1%
ValueRay Target Price	4.6	-43.1%

RNAC Fundamental Data Overview October 27, 2025

Market Cap USD = 238.2m (238.2m USD * 1.0 USD.USD)
P/E Forward = 25.4453
P/S = 232.143
P/B = 31.2575
Beta = 0.832
Revenue TTM = 1.03m USD
EBIT TTM = -78.4m USD
EBITDA TTM = -75.9m USD
Long Term Debt = 13.3m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 7.58m USD (from shortTermDebt, last quarter)
Debt = 13.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -147.0m USD (from netDebt column, last quarter)
Enterprise Value = 91.2m USD (238.2m + Debt 13.3m - CCE 160.3m)
Interest Coverage Ratio = -1.85 (Ebit TTM -78.4m / Interest Expense TTM -42.5m)
FCF Yield = -48.81% (FCF TTM -44.5m / Enterprise Value 91.2m)
FCF Margin = -4339 % (FCF TTM -44.5m / Revenue TTM 1.03m)
Net Margin = -3534 % (Net Income TTM -36.3m / Revenue TTM 1.03m)
Gross Margin = 72.12% ((Revenue TTM 1.03m - Cost of Revenue TTM 286.0k) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 100.0%)
Tobins Q-Ratio = 0.23 (Enterprise Value 91.2m / Total Assets 388.9m)
Interest Expense / Debt = -318.1% (Interest Expense -42.5m / Debt 13.3m)
Taxrate = -0.37% (negative due to tax credits) (287.0k / -77.1m)
NOPAT = -78.7m (EBIT -78.4m * (1 - -0.37%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 13.33 (Total Current Assets 163.4m / Total Current Liabilities 12.3m)
Debt / Equity = -5.28 (negative equity) (Debt 13.3m / totalStockholderEquity, last quarter -2.53m)
Debt / EBITDA = 1.94 (negative EBITDA) (Net Debt -147.0m / EBITDA -75.9m)
Debt / FCF = 3.30 (negative FCF - burning cash) (Net Debt -147.0m / FCF TTM -44.5m)
Total Stockholder Equity = -7.59m (last 4 quarters mean from totalStockholderEquity)
RoA = -9.32% (Net Income -36.3m / Total Assets 388.9m)
RoE = 477.6% (negative equity) (Net Income TTM -36.3m / Total Stockholder Equity -7.59m)
RoCE = -1362 % (out of range, set to none) (EBIT -78.4m / Capital Employed (Equity -7.59m + L.T.Debt 13.3m))
RoIC = 1037 % (out of range, set to none) (NOPAT -78.7m / Invested Capital -7.59m)
WACC = 8.60% (E(238.2m)/V(251.5m) * Re(9.08%) + (debt cost/tax rate unavailable))
Discount Rate = 9.08% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 126.2%
Fair Price DCF = unknown (Cash Flow -44.5m)
EPS Correlation: -53.44 | EPS CAGR: -61.69% | SUE: 0.16 | # QB: 0
Revenue Correlation: -73.21 | Revenue CAGR: -78.61% | SUE: -0.04 | # QB: 0

Additional Sources for RNAC Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle