Wall Street Zen Upgrades Carlsmed (NASDAQ:CARL) to Hold

Carlsmed (NASDAQ:CARL) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on CARL. Weiss Ratings reissued a “sell (e-)” rating on shares of Carlsmed in a report on Monday, December 22nd. BTIG Research reissued a “buy” rating and set a $24.00 price target on shares of Carlsmed in a report on Monday, December 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Carlsmed in a research note on Friday, January 9th. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Carlsmed in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.33.

Carlsmed Stock Performance

Shares of NASDAQ CARL opened at $10.95 on Friday. The company has a quick ratio of 11.91, a current ratio of 12.03 and a debt-to-equity ratio of 0.14. Carlsmed has a fifty-two week low of $10.65 and a fifty-two week high of $17.19. The firm has a market cap of $291.16 million and a price-to-earnings ratio of -3.28. The stock’s 50-day simple moving average is $12.69.

Institutional Investors Weigh In On Carlsmed

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in shares of Carlsmed by 6.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,800 shares of the company’s stock valued at $195,000 after acquiring an additional 1,000 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Carlsmed in the third quarter valued at $33,000. JPMorgan Chase & Co. acquired a new position in shares of Carlsmed during the 3rd quarter valued at about $37,000. Wells Fargo & Company MN grew its holdings in Carlsmed by 61.7% in the fourth quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after purchasing an additional 2,989 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Carlsmed during the third quarter worth approximately $42,000.

Carlsmed Company Profile

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).