Carisma Therapeutics (NASDAQ:CARM) Rating Lowered to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of Carisma Therapeutics (NASDAQ:CARM) from an outperform rating to a neutral rating in a report published on Thursday, Marketbeat reports. The firm currently has $1.00 price target on the stock, down from their prior price target of $10.00.

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

Carisma Therapeutics Stock Performance

Shares of Carisma Therapeutics stock opened at $0.40 on Thursday. The firm has a market capitalization of $16.90 million, a P/E ratio of -0.26 and a beta of 1.44. Carisma Therapeutics has a 52 week low of $0.40 and a 52 week 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’s 50 day moving average is $0.90 and its two-hundred day moving average is $1.03.

Carisma Therapeutics (NASDAQ:CARM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.31). The business 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%. Research analysts forecast that Carisma Therapeutics will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Carisma Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Carisma Therapeutics in the 2nd quarter worth about $40,000. Vanguard Group Inc. raised its stake in Carisma Therapeutics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,579,961 shares of the company’s stock valued at $3,587,000 after purchasing an additional 11,200 shares during the last quarter. Wexford Capital LP raised its stake in Carisma Therapeutics by 75.5% in the 3rd quarter. Wexford Capital LP now owns 34,861 shares of the company’s stock valued at $34,000 after purchasing 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 purchasing an additional 549,290 shares during the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

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.