Short Interest in Carisma Therapeutics, Inc. (NASDAQ:CARM) Drops By 47.2%

Carisma Therapeutics, Inc. (NASDAQ:CARM) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,030,000 shares, a decrease of 47.2% from the June 30th total of 1,950,000 shares. Based on an average trading volume of 775,400 shares, the days-to-cover ratio is currently 1.3 days. Currently, 5.1% of the company’s shares are short sold.

Carisma Therapeutics Stock Performance

NASDAQ CARM traded up $0.02 during midday trading on Friday, hitting $1.10. The company had a trading volume of 37,704 shares, compared to its average volume of 439,168. Carisma Therapeutics has a fifty-two week low of $0.99 and a fifty-two week high of $7.14. The firm has a fifty day simple moving average of $1.23 and a two-hundred day simple moving average of $1.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.64 and a current ratio of 4.64.

Carisma Therapeutics (NASDAQ:CARM) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.09). The firm had revenue of $3.40 million for the quarter, compared to analyst estimates of $3.90 million. Carisma Therapeutics had a negative return on equity of 215.95% and a negative net margin of 538.81%. On average, research analysts predict that Carisma Therapeutics will post -1.56 earnings per share for the current fiscal year.

Institutional Trading of Carisma Therapeutics

A hedge fund recently raised its stake in Carisma Therapeutics stock. Vanguard Group Inc. lifted its position in shares of Carisma Therapeutics, Inc. (NASDAQ:CARM) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,579,961 shares of the company’s stock after buying an additional 11,200 shares during the period. Vanguard Group Inc. owned about 3.80% of Carisma Therapeutics worth $3,587,000 at the end of the most recent quarter. Institutional investors and hedge funds own 44.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CARM shares. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Carisma Therapeutics in a research note on Wednesday, June 26th. BTIG Research assumed coverage on shares of Carisma Therapeutics in a research report on Thursday, April 11th. They set a “buy” rating and a $6.00 price objective on the stock.

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.