Carisma Therapeutics (NASDAQ:CARM) Rating Increased to Strong-Buy at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of Carisma Therapeutics (NASDAQ:CARM) to a strong-buy rating in a research report report published on Wednesday, Zacks.com reports.

Carisma Therapeutics Price Performance

NASDAQ:CARM opened at $0.97 on Wednesday. Carisma Therapeutics has a 1-year low of $0.80 and a 1-year high of $3.42. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $1.19. The stock has a market capitalization of $40.44 million, a PE ratio of -0.55 and a beta of 1.49.

Carisma Therapeutics (NASDAQ:CARM) last released its earnings results on Thursday, August 8th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $9.20 million during the quarter, compared to analysts’ expectations of $3.65 million. On average, research analysts expect that Carisma Therapeutics will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Carisma Therapeutics

A hedge fund recently raised its stake in Carisma Therapeutics stock. Vanguard Group Inc. raised its holdings in shares of Carisma Therapeutics, Inc. (NASDAQ:CARM) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,579,961 shares of the company’s stock after purchasing an additional 11,200 shares during the quarter. Vanguard Group Inc. owned approximately 3.80% of Carisma Therapeutics worth $3,587,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.