Carisma Therapeutics Inc. (NASDAQ:CARM) Sees Large Growth in Short Interest

Carisma Therapeutics Inc. (NASDAQ:CARM) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 1,570,000 shares, a growth of 99.4% from the August 31st total of 787,500 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,420,000 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 8,420,000 shares, the short-interest ratio is presently 0.2 days. Currently, 6.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Evercore ISI upgraded Carisma Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Carisma Therapeutics in a report on Saturday, September 27th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $1.00 price objective on shares of Carisma Therapeutics in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Carisma Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $1.93.

Carisma Therapeutics Stock Down 1.9%

CARM opened at $0.26 on Tuesday. The stock has a market cap of $10.70 million, a PE ratio of -0.16 and a beta of 2.06. The business has a 50 day moving average of $0.30 and a 200-day moving average of $0.30. Carisma Therapeutics has a 52 week low of $0.14 and a 52 week high of $1.27.

Insider Activity

In other Carisma Therapeutics news, insider Michael Klichinsky sold 119,347 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $0.26, for a total transaction of $31,030.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 484,347 shares of company stock worth $123,930. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Carisma Therapeutics stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Carisma Therapeutics Inc. (NASDAQ:CARM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $62,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.48% of Carisma Therapeutics as of its most recent SEC filing. Institutional investors own 44.27% of the company’s stock.

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.