HC Wainwright Lowers Carisma Therapeutics (NASDAQ:CARM) Price Target to $5.00

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

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

Carisma Therapeutics Price Performance

CARM stock opened at $0.85 on Monday. 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 business has a 50-day simple moving average of $0.97 and a two-hundred day simple moving average of $1.10. The company has a market capitalization of $35.49 million, a P/E ratio of -0.54 and a beta of 1.49. Carisma Therapeutics has a 52-week low of $0.80 and a 52-week high of $3.16.

Carisma Therapeutics (NASDAQ:CARM) last posted its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter. Research analysts expect that Carisma Therapeutics will post -1.33 EPS for the current fiscal year.

Institutional Trading of Carisma Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CARM. Vanguard Group Inc. grew its stake in Carisma Therapeutics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,579,961 shares of the company’s stock valued at $3,587,000 after purchasing an additional 11,200 shares during the period. Wexford Capital LP boosted its holdings in shares of 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 buying an additional 15,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Carisma Therapeutics in the 2nd quarter worth about $40,000. Finally, Barclays PLC increased its holdings 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 during the last quarter. 44.27% of the stock is owned by hedge funds and other institutional investors.

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.