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

Carisma Therapeutics (NASDAQ:CARM – Get Rating)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 90.84% from the stock’s current price. 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.

Several other research analysts have also recently issued reports on the company. TheStreet cut Carisma Therapeutics from a “c-” rating to a “d+” rating in a research note on Wednesday, March 8th. Robert W. Baird initiated coverage on shares of Carisma Therapeutics in a research report on Friday, April 14th. They issued an “outperform” rating and a $10.00 price objective for the company.

Carisma Therapeutics Price Performance

CARM opened at $5.24 on Wednesday. The company has a current ratio of 6.73, a quick ratio of 6.73 and a debt-to-equity ratio of 0.01. The company’s 50 day simple moving average is $4.01. Carisma Therapeutics has a one year low of $2.75 and a one year high of $19.30.

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, topping analysts’ consensus estimates of ($2.20) by $1.40. Equities analysts forecast that Carisma Therapeutics will post -1.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BML Capital Management LLC acquired a new stake in shares of Carisma Therapeutics during the first quarter worth about $1,275,000. BlackRock Inc. acquired a new stake in shares of Carisma Therapeutics in the 1st quarter valued at approximately $408,000. Geode Capital Management LLC purchased a new stake in Carisma Therapeutics during the first quarter worth about $368,000. Renaissance Technologies LLC purchased a new stake in shares of Carisma Therapeutics in the 1st quarter worth about $212,000. Finally, Deuterium Capital Management LLC purchased a new stake in Carisma Therapeutics in the 1st quarter valued at approximately $159,000. Hedge funds and other 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.