Carisma Therapeutics (NASDAQ:CARM) Cut to “Hold” at Baird R W

Baird R W lowered shares of Carisma Therapeutics (NASDAQ:CARM) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

CARM has been the topic of a number of other research reports. Robert W. Baird lowered shares of Carisma Therapeutics from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $1.00 in a report on Thursday. HC Wainwright cut their target price on Carisma Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, November 25th. Evercore ISI reiterated an “in-line” rating and issued a $0.70 price target (down previously from $4.00) on shares of Carisma Therapeutics in a research report on Wednesday. D. Boral Capital lowered their price objective on Carisma Therapeutics from $24.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Finally, BTIG Research lowered Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.94.

Carisma Therapeutics Price Performance

Carisma Therapeutics stock opened at $0.40 on Thursday. The stock has a 50-day moving average price of $0.90 and a two-hundred day moving average price of $1.03. Carisma Therapeutics has a 12 month low of $0.40 and a 12 month high of $3.16. The company has a market capitalization of $16.90 million, a PE ratio of -0.26 and a beta of 1.44. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 1.39.

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

Institutional Investors Weigh In On Carisma Therapeutics

Several large investors have recently added to or reduced their stakes in CARM. Wexford Capital LP boosted its holdings in shares of Carisma Therapeutics by 75.5% during the 3rd quarter. Wexford Capital LP now owns 34,861 shares of the company’s stock worth $34,000 after buying an additional 15,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Carisma Therapeutics during the 2nd quarter valued at $40,000. Barclays PLC boosted its stake 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 acquiring an additional 549,290 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 purchasing an additional 11,200 shares during the period. Institutional investors and hedge funds own 44.27% of the company’s stock.

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.