HC Wainwright Reiterates “Neutral” Rating for Carisma Therapeutics (NASDAQ:CARM)

Carisma Therapeutics (NASDAQ:CARM)‘s stock had its “neutral” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports.

CARM has been the subject of several other reports. BTIG Research lowered Carisma Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, December 10th. Baird R W cut shares of Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday. EF Hutton Acquisition Co. I upgraded shares of Carisma Therapeutics to a “strong-buy” rating in a report on Wednesday, October 30th. D. Boral Capital lowered their target price on shares of Carisma Therapeutics from $24.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Finally, Robert W. Baird downgraded Carisma Therapeutics from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $1.00 in a research note on Thursday. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.94.

Carisma Therapeutics Stock Performance

CARM stock opened at $0.40 on Monday. The stock has a market cap of $16.90 million, a P/E ratio of -0.26 and a beta of 1.44. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.23 and a current ratio of 3.23. The firm has a 50 day simple moving average of $0.90 and a 200 day simple moving average of $1.03. Carisma Therapeutics has a 52 week low of $0.40 and a 52 week high of $3.16.

Carisma Therapeutics (NASDAQ:CARM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share 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 business had revenue of $3.39 million for the quarter. Research analysts anticipate that Carisma Therapeutics will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carisma Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Carisma Therapeutics in the 2nd quarter worth $40,000. Vanguard Group Inc. grew its position in Carisma Therapeutics by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,579,961 shares of the company’s stock worth $3,587,000 after buying an additional 11,200 shares in the last quarter. Wexford Capital LP increased its stake in Carisma Therapeutics by 75.5% during 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 during the period. Finally, Barclays PLC lifted its position in shares of Carisma Therapeutics by 3,661,933.3% in the 3rd quarter. Barclays PLC now owns 549,305 shares of the company’s stock worth $539,000 after acquiring an additional 549,290 shares during the period. 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.