HC Wainwright Issues Pessimistic Forecast for Carisma Therapeutics (NASDAQ:CARM) Stock Price

Carisma Therapeutics (NASDAQ:CARM) had its price objective cut by analysts at HC Wainwright from $8.00 to $5.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 488.24% from the company’s previous close.

Separately, EF Hutton Acquisition Co. I upgraded Carisma Therapeutics to a “strong-buy” rating in a research report on Wednesday, October 30th.

Carisma Therapeutics Price Performance

Shares of NASDAQ CARM opened at $0.85 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a market capitalization of $35.49 million, a PE ratio of -0.54 and a beta of 1.49. Carisma Therapeutics has a one year low of $0.80 and a one year high of $3.16. The business’s fifty day moving average price is $0.97 and its 200-day moving average price is $1.10.

Carisma Therapeutics (NASDAQ:CARM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.31). The business had revenue of $3.39 million for the quarter. Carisma Therapeutics had a negative return on equity of 957.20% and a negative net margin of 314.78%. On average, equities research analysts anticipate that Carisma Therapeutics will post -1.33 EPS for the current year.

Hedge Funds Weigh In On Carisma Therapeutics

Large investors have recently modified their holdings of the company. Barclays PLC increased its holdings in Carisma Therapeutics by 3,661,933.3% during 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Carisma Therapeutics during the 2nd quarter valued at $40,000. Wexford Capital LP increased its holdings in shares of Carisma Therapeutics by 75.5% in the third 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 period. Finally, Vanguard Group Inc. raised its position in shares of Carisma Therapeutics by 0.7% in 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. 44.27% of the stock is currently owned by institutional investors.

About Carisma Therapeutics

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.