Evercore ISI Reaffirms In-Line Rating for Carisma Therapeutics (NASDAQ:CARM)

Evercore ISI restated their in-line rating on shares of Carisma Therapeutics (NASDAQ:CARM) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a $0.70 price target on the stock, down from their prior price target of $4.00.

Several other research firms have also weighed in on CARM. D. Boral Capital reduced their target price on Carisma Therapeutics from $24.00 to $12.00 and set a “buy” rating for the company in a report on Monday, December 9th. EF Hutton Acquisition Co. I upgraded shares of Carisma Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 30th. HC Wainwright lowered their target price on shares of Carisma Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, November 25th. Finally, BTIG Research downgraded shares of Carisma Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.94.

Carisma Therapeutics Stock Down 16.5 %

CARM stock opened at $0.40 on Wednesday. The firm has a market cap of $16.90 million, a PE ratio of -0.26 and a beta of 1.44. Carisma Therapeutics has a 1 year low of $0.40 and a 1 year high of $3.16. The company has a fifty day simple moving average of $0.90 and a 200 day simple moving average of $1.04. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 1.39.

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

Hedge Funds Weigh In On Carisma Therapeutics

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