Carisma Therapeutics (NASDAQ:CARM) Issues Quarterly Earnings Results

by · The Markets Daily

Carisma Therapeutics (NASDAQ:CARM – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $1.07 EPS for the quarter, FiscalAI reports. The business had revenue of $45.25 million for the quarter.

Carisma Therapeutics Stock Up 23.3%

NASDAQ:CARM traded up $0.01 during mid-day trading on Thursday, reaching $0.06. 282,172 shares of the company were exchanged, compared to its average volume of 6,864,063. The stock has a market cap of $2.34 million, a PE ratio of -0.07 and a beta of 1.94. Carisma Therapeutics has a 12 month low of $0.03 and a 12 month high of $1.27. The company has a fifty day moving average of $0.18 and a 200 day moving average of $0.27.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CARM shares. Weiss Ratings restated a “sell (e+)” rating on shares of Carisma Therapeutics in a research report on Wednesday, October 8th. D. Boral Capital reissued a “buy” rating and set a $1.00 price objective on shares of Carisma Therapeutics in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Carisma Therapeutics currently has an average rating of “Hold” and a consensus target price of $1.93.

Get Our Latest Report on Carisma Therapeutics

Insider Activity

In other news, insider Michael Klichinsky sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $0.25, for a total transaction of $50,000.00. Following the transaction, the insider directly owned 119,347 shares in the company, valued at approximately $29,836.75. This represents a 62.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 541,329 shares of company stock worth $138,176 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Carisma Therapeutics

A hedge fund recently bought a new stake in Carisma Therapeutics stock. Jane Street Group LLC purchased a new position in shares of Carisma Therapeutics Inc. (NASDAQ:CARM – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,810 shares of the company’s stock, valued at approximately $59,000. Jane Street Group LLC owned approximately 0.36% of Carisma Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 44.27% of the company’s stock.

About Carisma Therapeutics

(Get Free Report)

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.

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