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

Carisma Therapeutics Inc. (NASDAQ:CARM) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 350,300 shares, a decrease of 72.9% from the September 30th total of 1,291,800 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average trading volume of 4,758,700 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 4,758,700 shares, the short-interest ratio is presently 0.1 days. Currently, 0.9% of the company’s shares are short sold.

Insider Transactions at Carisma Therapeutics

In other Carisma Therapeutics news, insider Michael Klichinsky sold 119,347 shares of Carisma Therapeutics stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $0.26, for a total value of $31,030.22. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 541,329 shares of company stock worth $138,176 over the last ninety days. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carisma Therapeutics

A hedge fund recently bought a new stake in Carisma Therapeutics stock. Jane Street Group LLC purchased a new stake in Carisma Therapeutics Inc. (NASDAQ:CARM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 150,810 shares of the company’s stock, valued at approximately $59,000. Jane Street Group LLC owned 0.36% of Carisma Therapeutics as of its most recent SEC filing. Institutional investors own 44.27% of the company’s stock.

Carisma Therapeutics Price Performance

NASDAQ CARM opened at $0.05 on Thursday. The company has a market cap of $2.02 million, a P/E ratio of -0.06 and a beta of 2.06. The stock has a 50-day moving average of $0.23 and a two-hundred day moving average of $0.28. Carisma Therapeutics has a 1-year low of $0.03 and a 1-year high of $1.27.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CARM. Evercore ISI raised Carisma Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Carisma Therapeutics in a research note on Wednesday, October 8th. Finally, D. Boral Capital reissued a “buy” rating and issued a $1.00 price target on shares of Carisma Therapeutics in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1.93.

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.