Short Interest in Carisma Therapeutics, Inc. (NASDAQ:CARM) Drops By 5.4%

Carisma Therapeutics, Inc. (NASDAQ:CARM) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 537,700 shares, a decrease of 5.4% from the December 15th total of 568,400 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily volume of 252,500 shares, the days-to-cover ratio is currently 2.1 days.

Carisma Therapeutics Stock Performance

NASDAQ:CARM opened at $0.44 on Monday. The company has a market capitalization of $18.40 million, a price-to-earnings ratio of -0.28 and a beta of 1.56. The business has a 50 day moving average of $0.63 and a 200 day moving average of $0.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.23 and a quick ratio of 3.23. Carisma Therapeutics has a 1-year low of $0.38 and a 1-year high of $2.77.

Carisma Therapeutics (NASDAQ:CARM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.31). Carisma Therapeutics had a negative net margin of 314.78% and a negative return on equity of 957.20%. The firm had revenue of $3.39 million during the quarter. On average, sell-side analysts predict that Carisma Therapeutics will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CARM. Evercore ISI reissued an “in-line” rating and set a $0.70 price objective (down previously from $4.00) on shares of Carisma Therapeutics in a research note on Wednesday, December 11th. Robert W. Baird downgraded Carisma Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $1.00 in a research report on Thursday, December 12th. EF Hutton Acquisition Co. I raised Carisma Therapeutics to a “strong-buy” rating in a report on Wednesday, October 30th. D. Boral Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of Carisma Therapeutics in a research note on Monday, January 13th. Finally, BTIG Research cut shares of Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Carisma Therapeutics has a consensus rating of “Hold” and an average target price of $4.94.

Institutional Trading of Carisma Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Wexford Capital LP boosted its holdings in 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 acquiring an additional 15,000 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Carisma Therapeutics in the second quarter valued at approximately $40,000. Finally, Barclays PLC boosted its stake in shares of Carisma Therapeutics by 3,661,933.3% during the third quarter. Barclays PLC now owns 549,305 shares of the company’s stock valued at $539,000 after purchasing an additional 549,290 shares during the period. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

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.