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

Robert W. Baird cut shares of Carisma Therapeutics (NASDAQ:CARM) from an outperform rating to a neutral rating in a report issued on Thursday, Marketbeat reports. They currently have $1.00 price target on the stock, down from their previous price target of $10.00.

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

Carisma Therapeutics Trading Down 16.5 %

Shares of NASDAQ CARM opened at $0.40 on Thursday. The company has a market cap of $16.90 million, a PE ratio of -0.26 and a beta of 1.44. The firm’s 50 day moving average price is $0.90 and its 200-day moving average price is $1.03. Carisma Therapeutics has a 52-week low of $0.40 and a 52-week high of $3.16. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.23 and a current ratio of 3.23.

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

Institutional Trading of Carisma Therapeutics

Several hedge funds have recently made changes to their positions in the business. Wexford Capital LP raised its holdings in Carisma Therapeutics by 75.5% in the third quarter. Wexford Capital LP now owns 34,861 shares of the company’s stock valued at $34,000 after acquiring an additional 15,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Carisma Therapeutics in the second quarter valued at approximately $40,000. Barclays PLC raised its holdings in Carisma Therapeutics by 3,661,933.3% in the third quarter. Barclays PLC now owns 549,305 shares of the company’s stock valued at $539,000 after acquiring an additional 549,290 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in 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 acquiring an additional 11,200 shares in the last quarter. Institutional investors and hedge funds 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.