Renaissance Technologies LLC Lowers Stake in Carisma Therapeutics, Inc. (NASDAQ:CARM)

Renaissance Technologies LLC reduced its stake in shares of Carisma Therapeutics, Inc. (NASDAQ:CARM) by 38.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 139,360 shares of the company’s stock after selling 86,635 shares during the period. Renaissance Technologies LLC owned approximately 0.34% of Carisma Therapeutics worth $212,000 as of its most recent SEC filing.

Separately, Vanguard Group Inc. lifted its stake 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 purchasing an additional 11,200 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Carisma Therapeutics in a research report on Wednesday, June 26th.

Carisma Therapeutics Stock Performance

Shares of CARM opened at $0.93 on Friday. Carisma Therapeutics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $4.10. The firm has a market cap of $38.69 million, a price-to-earnings ratio of -0.52 and a beta of 1.49. The firm has a 50 day moving average price of $1.01 and a 200-day moving average price of $1.28. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.25 and a current ratio of 3.25.

Carisma Therapeutics (NASDAQ:CARM) last issued its earnings results on Thursday, August 8th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.09. Carisma Therapeutics had a negative net margin of 350.08% and a negative return on equity of 344.89%. The company had revenue of $9.20 million for the quarter, compared to analysts’ expectations of $3.65 million. As a group, equities research analysts forecast that Carisma Therapeutics, Inc. will post -1.43 earnings per share for the current year.

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.