Carisma Therapeutics (NASDAQ:CARM) Downgraded by Robert W. Baird to Neutral

Carisma Therapeutics (NASDAQ:CARM) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a $1.00 price objective on the stock, down from their prior price objective of $10.00. Robert W. Baird’s price target points to a potential upside of 147.04% from the stock’s current price.

CARM has been the subject of several other reports. Evercore ISI reiterated an “in-line” rating and issued a $0.70 price target (down from $4.00) on shares of Carisma Therapeutics in a report on Wednesday. D. Boral Capital dropped their target price on Carisma Therapeutics from $24.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, December 9th. HC Wainwright decreased their price target on Carisma Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, November 25th. EF Hutton Acquisition Co. I upgraded shares of Carisma Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, BTIG Research cut shares of Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.94.

Carisma Therapeutics Stock Performance

Carisma Therapeutics stock opened at $0.40 on Thursday. The company has a market cap of $16.90 million, a price-to-earnings ratio of -0.26 and a beta of 1.44. Carisma Therapeutics has a 12 month low of $0.40 and a 12 month high of $3.16. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.23 and a quick ratio of 3.23. The stock’s 50-day moving average is $0.90 and its 200-day moving average is $1.04.

Carisma Therapeutics (NASDAQ:CARM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, meeting the consensus estimate 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 for the quarter. Equities analysts anticipate that Carisma Therapeutics will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On Carisma Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wexford Capital LP boosted its stake in shares of 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 buying an additional 15,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Carisma Therapeutics during the 2nd quarter valued at $40,000. Barclays PLC grew its holdings in Carisma Therapeutics by 3,661,933.3% during the 3rd quarter. Barclays PLC now owns 549,305 shares of the company’s stock worth $539,000 after acquiring an additional 549,290 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Carisma Therapeutics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,579,961 shares of the company’s stock worth $3,587,000 after purchasing an additional 11,200 shares during the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

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.