Carisma Therapeutics, Inc. (NASDAQ:CARM) Sees Significant Growth in Short Interest

Carisma Therapeutics, Inc. (NASDAQ:CARM) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 714,400 shares, an increase of 63.1% from the January 15th total of 437,900 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average daily volume of 372,400 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CARM shares. HC Wainwright restated a “neutral” rating on shares of Carisma Therapeutics in a research note on Monday, December 16th. BTIG Research cut shares of Carisma Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, December 10th. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Carisma Therapeutics in a research note on Monday, January 13th. Evercore ISI reissued an “in-line” rating and set a $0.70 target price (down previously from $4.00) on shares of Carisma Therapeutics in a research report on Wednesday, December 11th. Finally, Baird R W lowered Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Carisma Therapeutics currently has a consensus rating of “Hold” and an average target price of $4.94.

Institutional Trading of Carisma Therapeutics

Several hedge funds have recently made changes to their positions in CARM. Wexford Capital LP grew its position in shares of Carisma Therapeutics by 75.5% in the third 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 in the last quarter. Renaissance Technologies LLC grew its holdings in Carisma Therapeutics by 11.9% during the 4th quarter. Renaissance Technologies LLC now owns 231,357 shares of the company’s stock valued at $97,000 after buying an additional 24,600 shares in the last quarter. Finally, Barclays PLC grew its holdings in Carisma Therapeutics by 3,661,933.3% during the 3rd quarter. Barclays PLC now owns 549,305 shares of the company’s stock valued at $539,000 after buying an additional 549,290 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.

Carisma Therapeutics Stock Performance

Shares of CARM stock traded up $0.01 during trading hours on Thursday, hitting $0.47. 68,124 shares of the company were exchanged, compared to its average volume of 429,683. 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 stock has a market capitalization of $19.50 million, a price-to-earnings ratio of -0.30 and a beta of 1.56. The firm has a fifty day simple moving average of $0.49 and a 200 day simple moving average of $0.81. Carisma Therapeutics has a 52-week low of $0.38 and a 52-week high of $2.77.

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.