Carisma Therapeutics, Inc. (NASDAQ:CARM) Short Interest Update

Carisma Therapeutics, Inc. (NASDAQ:CARM) saw a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 596,500 shares, a drop of 16.5% from the January 31st total of 714,400 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 358,800 shares, the days-to-cover ratio is currently 1.7 days.

Hedge Funds Weigh In On Carisma Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wexford Capital LP boosted its position in shares of Carisma Therapeutics by 75.5% during the third 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. Renaissance Technologies LLC raised its position in Carisma Therapeutics by 11.9% in the 4th quarter. Renaissance Technologies LLC now owns 231,357 shares of the company’s stock valued at $97,000 after buying an additional 24,600 shares during the last quarter. Finally, Barclays PLC lifted its stake 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 in the last quarter. 44.27% of the stock is owned by institutional investors and hedge funds.

Carisma Therapeutics Stock Up 4.0 %

CARM traded up $0.02 during trading on Wednesday, reaching $0.42. The company had a trading volume of 999 shares, compared to its average volume of 339,478. The business’s fifty day moving average price is $0.46 and its 200 day moving average price is $0.76. 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 12 month low of $0.38 and a 12 month high of $2.67. The company has a market cap of $17.37 million, a P/E ratio of -0.27 and a beta of 1.56.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI reissued an “in-line” rating and set a $0.70 price target (down from $4.00) on shares of Carisma Therapeutics in a research note on Wednesday, December 11th. Robert W. Baird cut shares of Carisma Therapeutics from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $1.00 in a research report on Thursday, December 12th. HC Wainwright reissued a “neutral” rating on shares of Carisma Therapeutics in a research note on Monday, December 16th. Baird R W cut Carisma Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, BTIG Research cut Carisma Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.94.

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.