Carisma Therapeutics, Inc. (NASDAQ:CARM) Short Interest Down 22.1% in February

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

Analysts Set New Price Targets

CARM has been the topic of a number of recent research reports. BTIG Research downgraded Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 10th. D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of Carisma Therapeutics in a research report on Monday, January 13th. Baird R W downgraded Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI restated an “in-line” rating and issued a $0.70 target price (down previously from $4.00) on shares of Carisma Therapeutics in a research note on Wednesday, December 11th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Carisma Therapeutics in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.94.

Carisma Therapeutics Stock Performance

Shares of NASDAQ:CARM opened at $0.43 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.23 and a quick ratio of 3.23. Carisma Therapeutics has a 1 year low of $0.38 and a 1 year high of $2.66. The firm has a market capitalization of $17.74 million, a PE ratio of -0.27 and a beta of 1.55. The business’s 50 day moving average price is $0.46 and its 200-day moving average price is $0.71.

Institutional Investors Weigh In On Carisma Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Carisma Therapeutics by 3,661,933.3% in the third quarter. Barclays PLC now owns 549,305 shares of the company’s stock valued at $539,000 after purchasing an additional 549,290 shares in the last quarter. Wexford Capital LP increased its stake 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 period. Finally, Renaissance Technologies LLC increased its holdings in Carisma Therapeutics by 11.9% during the 4th 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 period. Institutional investors and hedge funds 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.