Geode Capital Management LLC Lowers Holdings in Carisma Therapeutics, Inc. (NASDAQ:CARM)

Geode Capital Management LLC lowered its stake in shares of Carisma Therapeutics, Inc. (NASDAQ:CARM) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,184 shares of the company’s stock after selling 24,224 shares during the period. Geode Capital Management LLC owned 0.62% of Carisma Therapeutics worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wexford Capital LP lifted 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 valued at $34,000 after purchasing an additional 15,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Carisma Therapeutics during the 2nd quarter worth about $40,000. Finally, Barclays PLC boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Carisma Therapeutics Trading Down 7.0 %

Shares of CARM opened at $0.44 on Tuesday. Carisma Therapeutics, Inc. has a twelve month low of $0.38 and a twelve month high of $2.77. The firm has a market capitalization of $18.29 million, a P/E ratio of -0.28 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. The firm’s 50-day moving average is $0.68 and its two-hundred day moving average is $0.93.

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 the consensus estimate of ($0.31). The business had revenue of $3.39 million for the quarter. Carisma Therapeutics had a negative net margin of 314.78% and a negative return on equity of 957.20%. On average, research analysts predict that Carisma Therapeutics, Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Baird R W lowered shares of Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. EF Hutton Acquisition Co. I upgraded shares of Carisma Therapeutics to a “strong-buy” rating in a report on Wednesday, October 30th. Evercore ISI reiterated an “in-line” rating and issued a $0.70 target price (down previously from $4.00) on shares of Carisma Therapeutics in a report on Wednesday, December 11th. Robert W. Baird downgraded shares of Carisma Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $1.00 in a research note on Thursday, December 12th. Finally, BTIG Research cut shares of Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.94.

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.