Carlsmed (NASDAQ:CARL) Downgraded to Sell Rating by Wall Street Zen

Carlsmed (NASDAQ:CARL) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other equities analysts also recently weighed in on CARL. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 target price on shares of Carlsmed in a research report on Friday, January 9th. BTIG Research reiterated a “buy” rating and set a $24.00 price objective on shares of Carlsmed in a research report on Monday, December 15th. Weiss Ratings restated a “sell (e-)” rating on shares of Carlsmed in a report on Monday, December 22nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 price target (up from $18.00) on shares of Carlsmed in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Carlsmed Trading Down 7.2%

Shares of NASDAQ:CARL opened at $12.57 on Friday. The company has a market cap of $334.27 million and a P/E ratio of -3.76. Carlsmed has a 12 month low of $11.45 and a 12 month high of $17.19. The company has a current ratio of 12.03, a quick ratio of 11.91 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $13.29.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.05.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new position in Carlsmed in the 3rd quarter worth about $2,343,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Carlsmed during the third quarter worth approximately $736,000. TD Waterhouse Canada Inc. bought a new stake in shares of Carlsmed during the third quarter valued at approximately $2,026,000. Board of Trustees of The Leland Stanford Junior University purchased a new stake in shares of Carlsmed in the third quarter valued at approximately $335,000. Finally, Rhumbline Advisers bought a new position in Carlsmed in the third quarter worth approximately $79,000.

Carlsmed Company Profile

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”).