HC Wainwright Reiterates Buy Rating for Carisma Therapeutics (NASDAQ:CARM)

Carisma Therapeutics (NASDAQ:CARM)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $8.00 target price on the stock.

Separately, BTIG Research started coverage on Carisma Therapeutics in a research report on Thursday, April 11th. They issued a “buy” rating and a $6.00 target price on the stock.

Carisma Therapeutics Trading Up 4.9 %

Shares of CARM opened at $1.28 on Wednesday. The stock has a 50-day moving average price of $1.37 and a 200 day moving average price of $2.04. Carisma Therapeutics has a one year low of $0.99 and a one year high of $9.77. The company has a market capitalization of $53.17 million, a P/E ratio of -0.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.64 and a current ratio of 4.64.

Carisma Therapeutics (NASDAQ:CARM) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.09). The company had revenue of $3.40 million for the quarter, compared to analyst estimates of $3.90 million. Carisma Therapeutics had a negative return on equity of 215.95% and a negative net margin of 538.81%. Sell-side analysts forecast that Carisma Therapeutics will post -1.72 EPS for the current fiscal year.

Institutional Trading of Carisma Therapeutics

A hedge fund recently raised its stake in Carisma Therapeutics stock. Vanguard Group Inc. increased its position in shares of Carisma Therapeutics, Inc. (NASDAQ:CARM) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,579,961 shares of the company’s stock after acquiring an additional 11,200 shares during the period. Vanguard Group Inc. owned about 3.80% of Carisma Therapeutics worth $3,587,000 as of its most recent filing with the Securities and Exchange Commission. 44.27% of the stock is currently owned by institutional investors and hedge funds.

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.