Brokerages Set Carisma Therapeutics, Inc. (NASDAQ:CARM) PT at $9.60

Shares of Carisma Therapeutics, Inc. (NASDAQ:CARM - Get Free Report) have been given an average rating of "Buy" by the six analysts that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.00.

Several equities analysts have commented on CARM shares. HC Wainwright lowered their price objective on shares of Carisma Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, April 2nd. BTIG Research initiated coverage on shares of Carisma Therapeutics in a report on Thursday. They set a "buy" rating and a $6.00 target price for the company.

Carisma Therapeutics Stock Up 3.7 %

Shares of NASDAQ CARM traded up $0.07 during midday trading on Thursday, hitting $1.98. The stock had a trading volume of 176,088 shares, compared to its average volume of 156,330. The company has a market cap of $82.25 million, a P/E ratio of -0.58 and a beta of 0.95. The business's 50 day moving average is $2.29 and its 200-day moving average is $2.71. Carisma Therapeutics has a 52 week low of $1.80 and a 52 week high of $9.77. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Carisma Therapeutics by 1,255.8% during the 2nd quarter. BlackRock Inc. now owns 1,783,238 shares of the company's stock worth $15,639,000 after acquiring an additional 1,651,714 shares during the period. Vanguard Group Inc. grew its position in Carisma Therapeutics by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 1,568,761 shares of the company's stock worth $4,596,000 after acquiring an additional 8,435 shares in the last quarter. Geode Capital Management LLC grew its position in Carisma Therapeutics by 354.9% in the second quarter. Geode Capital Management LLC now owns 539,996 shares of the company's stock worth $4,736,000 after acquiring an additional 421,293 shares in the last quarter. State Street Corp boosted its holdings in shares of Carisma Therapeutics by 1,325.1% during the 2nd quarter. State Street Corp now owns 475,164 shares of the company's stock worth $4,167,000 after buying an additional 441,821 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Carisma Therapeutics by 52.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 311,034 shares of the company's stock worth $911,000 after buying an additional 107,224 shares during the period. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

About Carisma Therapeutics

Carisma Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing immunotherapies to treat cancer and other serious diseases. The company's clinical and pre-clinical programs include CT-0508 and CT-0525 targeting HER2 overexpressing tumors; and CT-1119, a CAR-Monocyte for mesothelin overexpressing solid tumors.