Carisma Therapeutics’ (CARM) In-Line Rating Reiterated at Evercore ISI

Carisma Therapeutics (NASDAQ:CARM)‘s stock had its “in-line” rating restated by equities researchers at Evercore ISI in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $0.70 price target on the stock, down from their previous price target of $4.00. Evercore ISI’s target price would indicate a potential upside of 13.34% from the company’s current price.

A number of other equities research analysts have also commented on CARM. EF Hutton Acquisition Co. I upgraded Carisma Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 30th. D. Boral Capital dropped their price target on shares of Carisma Therapeutics from $24.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday. HC Wainwright cut their price objective on Carisma Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, November 25th. Finally, BTIG Research lowered Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Carisma Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $5.93.

Carisma Therapeutics Price Performance

Carisma Therapeutics stock traded down $0.08 during midday trading on Wednesday, hitting $0.62. The company’s stock had a trading volume of 393,805 shares, compared to its average volume of 330,803. Carisma Therapeutics has a 12 month low of $0.59 and a 12 month high of $3.16. The company has a market capitalization of $25.78 million, a PE ratio of -0.40 and a beta of 1.44. The stock’s 50-day moving average price is $0.93 and its 200-day moving average price is $1.05. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 1.39.

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

Institutional Investors Weigh In On Carisma Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Wexford Capital LP grew its position in Carisma Therapeutics by 75.5% in the 3rd quarter. Wexford Capital LP now owns 34,861 shares of the company’s stock worth $34,000 after purchasing an additional 15,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Carisma Therapeutics in the second quarter valued at about $40,000. Barclays PLC grew its position in Carisma Therapeutics by 3,661,933.3% during the third quarter. Barclays PLC now owns 549,305 shares of the company’s stock worth $539,000 after buying an additional 549,290 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Carisma Therapeutics by 0.7% during 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 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.