Carisma Therapeutics, Inc. (NASDAQ:CARM) Short Interest Up 42.3% in June

Carisma Therapeutics, Inc. (NASDAQ:CARM) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,950,000 shares, an increase of 42.3% from the June 15th total of 1,370,000 shares. Based on an average daily volume of 753,500 shares, the days-to-cover ratio is presently 2.6 days. Approximately 9.7% of the shares of the stock are short sold.

Carisma Therapeutics Price Performance

Carisma Therapeutics stock remained flat at $1.20 during trading hours on Friday. The company’s stock had a trading volume of 354,375 shares, compared to its average volume of 2,043,886. The business has a 50 day moving average of $1.29 and a 200 day moving average of $1.92. Carisma Therapeutics has a 1 year low of $0.99 and a 1 year high of $9.77. The company has a market capitalization of $49.85 million, a PE ratio of -0.60 and a beta of 1.51. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.08.

Carisma Therapeutics (NASDAQ:CARM) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.09). Carisma Therapeutics had a negative net margin of 538.81% and a negative return on equity of 215.95%. The business had revenue of $3.40 million during the quarter, compared to the consensus estimate of $3.90 million. Research analysts anticipate that Carisma Therapeutics will post -1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BTIG Research began coverage on shares of Carisma Therapeutics in a report on Thursday, April 11th. They issued a “buy” rating and a $6.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Carisma Therapeutics in a research note on Wednesday, June 26th.

Hedge Funds Weigh In On Carisma Therapeutics

A hedge fund recently raised its stake in Carisma Therapeutics stock. Vanguard Group Inc. boosted its stake in Carisma Therapeutics, Inc. (NASDAQ:CARM) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,579,961 shares of the company’s stock after acquiring an additional 11,200 shares during the period. Vanguard Group Inc. owned 3.80% of Carisma Therapeutics worth $3,587,000 at the end of the most recent quarter. 44.27% of the stock is currently owned by institutional investors and hedge funds.

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.