Carisma Therapeutics, Inc. (NASDAQ:CARM) Sees Significant Drop in Short Interest

Carisma Therapeutics, Inc. (NASDAQ:CARM) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 464,400 shares, a decline of 22.1% from the February 13th total of 596,500 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 361,600 shares, the short-interest ratio is presently 1.3 days.

Carisma Therapeutics Stock Performance

CARM stock traded down $0.01 during trading on Tuesday, reaching $0.40. The company had a trading volume of 58,348 shares, compared to its average volume of 370,686. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.23 and a current ratio of 3.23. Carisma Therapeutics has a twelve month low of $0.38 and a twelve month high of $2.66. The company has a market cap of $16.87 million, a price-to-earnings ratio of -0.26 and a beta of 1.55. The firm has a 50-day simple moving average of $0.45 and a 200-day simple moving average of $0.71.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CARM. Baird R W cut Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. BTIG Research lowered shares of Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI reiterated 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. D. Boral Capital restated a “buy” rating and issued a $12.00 target price on shares of Carisma Therapeutics in a research note on Monday, January 13th. Finally, Robert W. Baird downgraded Carisma Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $1.00 in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.94.

Hedge Funds Weigh In On Carisma Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of Carisma Therapeutics by 11.9% in the fourth quarter. Renaissance Technologies LLC now owns 231,357 shares of the company’s stock worth $97,000 after purchasing an additional 24,600 shares during the last quarter. Barclays PLC increased its holdings in Carisma Therapeutics by 3,661,933.3% in the 3rd quarter. Barclays PLC now owns 549,305 shares of the company’s stock worth $539,000 after buying an additional 549,290 shares during the period. Finally, Wexford Capital LP raised its position in Carisma Therapeutics by 75.5% during the 3rd quarter. Wexford Capital LP now owns 34,861 shares of the company’s stock worth $34,000 after buying an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s 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.