Carisma Therapeutics (NASDAQ:CARM) Lowered to Hold Rating by Baird R W

Baird R W lowered shares of Carisma Therapeutics (NASDAQ:CARM) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

Several other analysts also recently commented on the company. D. Boral Capital lowered their price objective on Carisma Therapeutics from $24.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, December 9th. HC Wainwright reduced their price objective on shares of Carisma Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, November 25th. BTIG Research lowered shares of Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI restated an “in-line” rating and issued a $0.70 target price (down previously from $4.00) on shares of Carisma Therapeutics in a research note on Wednesday. Finally, EF Hutton Acquisition Co. I raised Carisma Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.94.

Carisma Therapeutics Price Performance

Shares of NASDAQ:CARM opened at $0.40 on Thursday. The stock’s 50 day moving average is $0.90 and its 200-day moving average is $1.03. Carisma Therapeutics has a twelve month low of $0.40 and a twelve month high of $3.16. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $16.90 million, a price-to-earnings ratio of -0.26 and a beta of 1.44.

Carisma Therapeutics (NASDAQ:CARM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, hitting the consensus estimate of ($0.31). The firm had revenue of $3.39 million for the quarter. Carisma Therapeutics had a negative net margin of 314.78% and a negative return on equity of 957.20%. Sell-side analysts forecast that Carisma Therapeutics will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Carisma Therapeutics

A number of hedge funds have recently modified their holdings of CARM. Vanguard Group Inc. increased its position in Carisma Therapeutics by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,579,961 shares of the company’s stock worth $3,587,000 after buying an additional 11,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Carisma Therapeutics during the 2nd quarter worth $40,000. Wexford Capital LP increased its holdings in Carisma Therapeutics by 75.5% in the 3rd quarter. Wexford Capital LP now owns 34,861 shares of the company’s stock worth $34,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Barclays PLC raised its stake in Carisma Therapeutics by 3,661,933.3% in the 3rd quarter. Barclays PLC now owns 549,305 shares of the company’s stock valued at $539,000 after acquiring an additional 549,290 shares during the period. Institutional investors own 44.27% of the company’s stock.

Carisma Therapeutics Company Profile

Carisma Therapeutics, Inc, a clinical-stage cell therapy company, focuses on discovering and developing immunotherapies to treat cancer and other serious diseases in the United States. The company's ex vivo CAR-M cell therapies include CT-0508, a CAR-macrophage, which is in Phase 1 clinical trial to treat solid tumors; CT-0525, a CAR-monocyte that is in Phase 1 clinical trial to treat solid tumors; and CT-1119, a mesothelin-targeted CAR-Monocyte that is in pre-clinical stage to treat patients with advanced mesothelin-positive solid tumors, including lung cancer, mesothelioma, pancreatic cancer, ovarian cancer, and others.