HC Wainwright Reiterates Buy Rating for Carisma Therapeutics (NASDAQ:CARM)

Carisma Therapeutics (NASDAQ:CARM – Get Rating)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $10.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 108.33% from the company’s previous close. HC Wainwright also issued estimates for Carisma Therapeutics’ Q2 2023 earnings at ($0.66) EPS, Q3 2023 earnings at ($0.71) EPS, Q4 2023 earnings at ($0.71) EPS, Q1 2024 earnings at ($0.73) EPS, Q2 2024 earnings at ($0.70) EPS, Q3 2024 earnings at ($0.64) EPS and Q4 2024 earnings at ($0.66) EPS.

A number of other research firms also recently weighed in on CARM. Robert W. Baird assumed coverage on shares of Carisma Therapeutics in a research report on Friday, April 14th. They set an “outperform” rating and a $10.00 price target for the company. TheStreet downgraded shares of Carisma Therapeutics from a “c-” rating to a “d+” rating in a research report on Wednesday, March 8th.

Carisma Therapeutics Trading Down 8.4 %

Shares of NASDAQ CARM opened at $4.80 on Wednesday. Carisma Therapeutics has a 52 week low of $2.75 and a 52 week high of $19.30. The firm has a market cap of $48.86 million, a PE ratio of -1.22 and a beta of 0.81. The company has a 50-day simple moving average of $4.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.73 and a current ratio of 6.73.

Carisma Therapeutics (NASDAQ:CARM – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($2.20) by $1.40. As a group, research analysts expect that Carisma Therapeutics will post -1.8 earnings per share for the current year.

Institutional Investors Weigh In On Carisma Therapeutics

Several large investors have recently made changes to their positions in CARM. CIBC Asset Management Inc acquired a new stake in Carisma Therapeutics in the 1st quarter worth approximately $46,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Carisma Therapeutics during the first quarter worth approximately $46,000. Virtu Financial LLC acquired a new position in shares of Carisma Therapeutics during the first quarter worth approximately $48,000. Jump Financial LLC acquired a new position in shares of Carisma Therapeutics during the first quarter worth approximately $54,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Carisma Therapeutics during the first quarter worth approximately $62,000. Institutional investors own 16.45% of the company’s stock.

Carisma Therapeutics Company Profile

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Carisma Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the discovery and development of immunotherapies. It offers chimeric antigen receptor (CAR)-macrophages, a cell therapy platform focusing on the treatment of solid tumors. The company was founded by Michael Klichinsky and Saar Gill in 2016 and is headquartered in Philadelphia, PA.