Carlsmed, Inc.’s Lock-Up Period Set To End on January 19th (NASDAQ:CARL)

Carlsmed’s (NASDAQ:CARL) lock-up period will end on Monday, January 19th. Carlsmed had issued 6,700,000 shares in its initial public offering on July 23rd. The total size of the offering was $100,500,000 based on an initial share price of $15.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

CARL has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e-)” rating on shares of Carlsmed in a report on Monday, December 22nd. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Truist Financial reiterated a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Carlsmed in a research report on Friday, November 7th. BTIG Research reissued a “buy” rating and set a $24.00 target price on shares of Carlsmed in a research note on Monday, December 15th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $20.00 target price on shares of Carlsmed in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.33.

Carlsmed Stock Performance

Shares of CARL opened at $12.69 on Monday. The stock has a market capitalization of $337.43 million and a P/E ratio of -3.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 12.03 and a quick ratio of 11.91. The company’s 50 day moving average is $13.18. Carlsmed has a 52 week low of $11.45 and a 52 week high of $17.19.

Carlsmed (NASDAQ:CARL) last issued its earnings results on Thursday, November 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Orbimed Advisors LLC bought a new stake in shares of Carlsmed in the third quarter valued at approximately $16,772,000. Vanguard Group Inc. acquired a new position in Carlsmed during the 3rd quarter valued at $3,042,000. Teacher Retirement System of Texas acquired a new position in Carlsmed during the 3rd quarter valued at $2,343,000. Russell Investments Group Ltd. bought a new stake in Carlsmed in the 3rd quarter valued at $2,128,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in Carlsmed in the 3rd quarter worth $2,026,000.

About Carlsmed

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).