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

Robert W. Baird cut shares of Carisma Therapeutics (NASDAQ:CARM) from an outperform rating to a neutral rating in a report published on Thursday, MarketBeat Ratings reports. Robert W. Baird currently has $1.00 price target on the stock, down from their prior price target of $10.00.

A number of other research firms have also recently weighed in on CARM. Evercore ISI reaffirmed an “in-line” rating and issued a $0.70 price target (down previously from $4.00) on shares of Carisma Therapeutics in a report on Wednesday. BTIG Research downgraded Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday. EF Hutton Acquisition Co. I raised shares of Carisma Therapeutics to a “strong-buy” rating in a research note on Wednesday, October 30th. D. Boral Capital reduced their price objective on shares of Carisma Therapeutics from $24.00 to $12.00 and set a “buy” rating for the company in a research report on Monday. Finally, HC Wainwright reduced their target price on Carisma Therapeutics from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Carisma Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $4.94.

Carisma Therapeutics Stock Performance

Carisma Therapeutics stock opened at $0.48 on Thursday. Carisma Therapeutics has a 12 month low of $0.46 and a 12 month high of $3.16. The stock’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $1.04. 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 (NASDAQ:CARM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, meeting the consensus estimate of ($0.31). The company 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, equities analysts expect that Carisma Therapeutics will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Carisma Therapeutics during the second quarter worth about $40,000. Vanguard Group Inc. raised its position in shares of Carisma Therapeutics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,579,961 shares of the company’s stock valued at $3,587,000 after buying an additional 11,200 shares during the period. Wexford Capital LP raised its position 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 period. Finally, Barclays PLC lifted its holdings in 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 acquiring an additional 549,290 shares during the last quarter. Hedge funds and other 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.