Short Interest in Carisma Therapeutics, Inc. (NASDAQ:CARM) Decreases By 8.7%

Carisma Therapeutics, Inc. (NASDAQ:CARM) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 2,210,000 shares, a decline of 8.7% from the October 15th total of 2,420,000 shares. Based on an average daily trading volume, of 204,200 shares, the days-to-cover ratio is currently 10.8 days. Currently, 11.9% of the company’s shares are short sold.

Carisma Therapeutics Stock Down 1.2 %

Carisma Therapeutics stock traded down $0.03 during mid-day trading on Friday, reaching $2.49. The stock had a trading volume of 116,161 shares, compared to its average volume of 206,864. The company has a market capitalization of $100.50 million, a price-to-earnings ratio of -0.66 and a beta of 0.92. The company has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $5.58. Carisma Therapeutics has a one year low of $2.35 and a one year high of $13.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.53 and a quick ratio of 7.53.

Hedge Funds Weigh In On Carisma Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC bought a new position in Carisma Therapeutics during the 2nd quarter valued at about $47,000. Citigroup Inc. bought a new position in Carisma Therapeutics during the 2nd quarter valued at about $70,000. California State Teachers Retirement System bought a new position in Carisma Therapeutics during the 2nd quarter valued at about $78,000. Tower Research Capital LLC TRC lifted its stake in Carisma Therapeutics by 534.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,982 shares of the company’s stock valued at $46,000 after acquiring an additional 9,252 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Carisma Therapeutics by 1,957.9% during the 2nd quarter. Wells Fargo & Company MN now owns 10,598 shares of the company’s stock valued at $93,000 after acquiring an additional 10,083 shares during the period. Institutional investors own 32.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CARM. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of Carisma Therapeutics in a research note on Wednesday, September 6th. Capital One Financial started coverage on shares of Carisma Therapeutics in a research report on Tuesday, October 3rd. They set an “overweight” rating and a $10.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Carisma Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $10.00.

Carisma Therapeutics Company Profile

Carisma Therapeutics, Inc, a biopharmaceutical company, develops chimeric antigen receptors (CAR) macrophages for the treatment of solid tumors. Its solutions are used to play a crucial role in the innate and adaptive immune response, and technology leverages advances in macrophage biology, chimeric antigen receptor engineering, and adoptive cellular therapy for the treatment of human diseases.