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

Carisma Therapeutics, Inc. (NASDAQ:CARM) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 537,700 shares, a decline of 5.4% from the December 31st total of 568,400 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 252,500 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CARM. Robert W. Baird cut shares of 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. BTIG Research lowered Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 10th. D. Boral Capital reissued a “buy” rating and set a $12.00 price target on shares of Carisma Therapeutics in a research report on Monday, January 13th. Baird R W cut Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Evercore ISI reiterated an “in-line” rating and set a $0.70 target price (down previously from $4.00) on shares of Carisma Therapeutics in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Carisma Therapeutics presently has a consensus rating of “Hold” and an average price target of $4.94.

Carisma Therapeutics Price Performance

Shares of CARM opened at $0.46 on Friday. Carisma Therapeutics has a 12 month low of $0.38 and a 12 month high of $2.77. 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 has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.85. The company has a market cap of $19.20 million, a P/E ratio of -0.29 and a beta of 1.56.

Carisma Therapeutics (NASDAQ:CARM) last released 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). The business had revenue of $3.39 million for the quarter. Carisma Therapeutics had a negative net margin of 314.78% and a negative return on equity of 957.20%. On average, research analysts forecast that Carisma Therapeutics will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On Carisma Therapeutics

A number of hedge funds have recently made changes to their positions in CARM. Barclays PLC increased its position in Carisma Therapeutics by 3,661,933.3% in the 3rd quarter. Barclays PLC now owns 549,305 shares of the company’s stock valued at $539,000 after acquiring an additional 549,290 shares during the period. Wexford Capital LP grew its stake in shares of Carisma Therapeutics by 75.5% in the third quarter. Wexford Capital LP now owns 34,861 shares of the company’s stock worth $34,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Carisma Therapeutics during the second quarter valued at $40,000. Institutional investors own 44.27% of the company’s stock.

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.