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

Carisma Therapeutics, Inc. (NASDAQ:CARM) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 464,400 shares, a drop of 22.1% from the February 13th total of 596,500 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 361,600 shares, the short-interest ratio is currently 1.3 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on CARM. HC Wainwright restated a “neutral” rating on shares of Carisma Therapeutics in a research report on Monday, December 16th. Evercore ISI restated 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. Baird R W downgraded shares of Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Robert W. Baird lowered shares of Carisma Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $1.00 in a research report on Thursday, December 12th. Finally, D. Boral Capital restated a “buy” rating and set a $12.00 target price on shares of Carisma Therapeutics in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CARM. Wexford Capital LP lifted 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 period. Renaissance Technologies LLC raised its holdings in shares of Carisma Therapeutics by 11.9% in the fourth quarter. Renaissance Technologies LLC now owns 231,357 shares of the company’s stock valued at $97,000 after acquiring an additional 24,600 shares in the last quarter. Finally, Barclays PLC lifted its stake in Carisma Therapeutics by 3,661,933.3% in the third quarter. Barclays PLC now owns 549,305 shares of the company’s stock worth $539,000 after acquiring an additional 549,290 shares during the period. Institutional investors own 44.27% of the company’s stock.

Carisma Therapeutics Trading Down 2.5 %

Carisma Therapeutics stock traded down $0.01 during trading hours on Tuesday, hitting $0.40. The company had a trading volume of 58,348 shares, compared to its average volume of 370,686. The firm has a market cap of $16.87 million, a P/E ratio of -0.26 and a beta of 1.55. The company has a 50-day moving average price of $0.45 and a two-hundred day moving average price of $0.71. Carisma Therapeutics has a 1 year low of $0.38 and a 1 year high of $2.66. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.23 and a current ratio of 3.23.

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.