HC Wainwright Reaffirms Buy Rating for Carisma Therapeutics (NASDAQ:CARM)

HC Wainwright reaffirmed their buy rating on shares of Carisma Therapeutics (NASDAQ:CARM) in a report published on Wednesday, Benzinga reports. They currently have a $8.00 price objective on the stock.

Separately, BTIG Research started coverage on shares of Carisma Therapeutics in a research report on Thursday, April 11th. They issued a buy rating and a $6.00 price objective on the stock.

Carisma Therapeutics Stock Up 18.8 %

Carisma Therapeutics stock opened at $1.52 on Wednesday. Carisma Therapeutics has a fifty-two week low of $0.99 and a fifty-two week high of $9.77. The stock has a market cap of $63.15 million, a PE ratio of -0.76 and a beta of 1.35. The firm’s 50-day simple moving average is $1.36 and its 200 day simple moving average is $2.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.64 and a current ratio of 4.64.

Carisma Therapeutics (NASDAQ:CARM) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.09). The firm had revenue of $3.40 million for the quarter, compared to analysts’ expectations of $3.90 million. Carisma Therapeutics had a negative return on equity of 215.95% and a negative net margin of 538.81%. Research analysts predict that Carisma Therapeutics will post -1.56 EPS for the current fiscal year.

Institutional Trading of Carisma Therapeutics

A hedge fund recently raised its stake in Carisma Therapeutics stock. Vanguard Group Inc. grew its holdings in Carisma Therapeutics, Inc. (NASDAQ:CARM) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,579,961 shares of the company’s stock after purchasing an additional 11,200 shares during the period. Vanguard Group Inc. owned approximately 3.80% of Carisma Therapeutics worth $3,587,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.