Wall Street Zen Upgrades Carlsmed (NASDAQ:CARL) to “Hold”

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

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

Carlsmed Price Performance

Shares of CARL opened at $10.95 on Friday. Carlsmed has a one year low of $10.65 and a one year high of $17.19. The firm has a market cap of $291.16 million and a P/E ratio of -3.28. The company has a 50-day moving average price of $12.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 11.91 and a current ratio of 12.03.

Institutional Trading of Carlsmed

Several institutional investors have recently made changes to their positions in CARL. State Street Corp lifted its position in shares of Carlsmed by 65.2% during the fourth quarter. State Street Corp now owns 68,941 shares of the company’s stock valued at $851,000 after purchasing an additional 27,217 shares in the last quarter. Wells Fargo & Company MN increased its stake in Carlsmed by 61.7% in the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after buying an additional 2,989 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Carlsmed during the 4th quarter worth approximately $300,000. Janney Montgomery Scott LLC boosted its stake in shares of Carlsmed by 6.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,800 shares of the company’s stock worth $195,000 after buying an additional 1,000 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Carlsmed in the fourth quarter valued at approximately $121,000.

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”).