Carisma Therapeutics (NASDAQ:CARM) Stock Price Down 1.8%

Carisma Therapeutics, Inc. (NASDAQ:CARM)’s stock price was down 1.8% during mid-day trading on Thursday . The company traded as low as $1.53 and last traded at $1.60. 163,645 shares changed hands during trading, an increase of 6% from the average daily volume of 154,870 shares. The stock had previously closed at $1.63.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CARM. HC Wainwright reduced their price objective on Carisma Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. BTIG Research began coverage on shares of Carisma Therapeutics in a research report on Thursday, April 11th. They issued a “buy” rating and a $6.00 price target for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Carisma Therapeutics currently has an average rating of “Buy” and a consensus target price of $8.80.

Carisma Therapeutics Stock Performance

The stock’s fifty day simple moving average is $2.12 and its 200-day simple moving average is $2.43. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $67.29 million, a PE ratio of -0.47 and a beta of 1.00.

Carisma Therapeutics (NASDAQ:CARM) last released its quarterly earnings data on Monday, April 1st. The company reported ($0.52) earnings per share for the quarter. The firm had revenue of $4.29 million during the quarter, compared to analysts’ expectations of $4.00 million. Carisma Therapeutics had a negative net margin of 582.34% and a negative return on equity of 154.04%. On average, research analysts predict that Carisma Therapeutics, Inc. will post -1.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Carisma Therapeutics stock. SG Americas Securities LLC bought a new stake in shares of Carisma Therapeutics, Inc. (NASDAQ:CARM) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,653 shares of the company’s stock, valued at approximately $58,000. 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.