Carisma Therapeutics Inc. (NASDAQ:CARM) Short Interest Update

Carisma Therapeutics Inc. (NASDAQ:CARM) was the target of a significant 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. Approximately 6.4% of the company’s stock are sold short. 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. Approximately 6.4% of the company’s stock are sold short.

Carisma Therapeutics Stock Performance

CARM stock opened at $0.26 on Tuesday. The company has a market cap of $10.70 million, a price-to-earnings ratio of -0.16 and a beta of 2.06. The business’s 50-day moving average is $0.30 and its two-hundred day moving average is $0.30. Carisma Therapeutics has a fifty-two week low of $0.14 and a fifty-two week high of $1.27.

Wall Street Analysts Forecast Growth

CARM has been the subject of several recent analyst reports. D. Boral Capital restated a “buy” rating and issued a $1.00 price target on shares of Carisma Therapeutics in a research note on Friday, August 8th. Evercore ISI raised Carisma Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Carisma Therapeutics in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Carisma Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $1.93.

Insider Activity

In other news, insider Michael Klichinsky sold 200,000 shares of the 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 sale, the insider owned 119,347 shares in the company, valued at $29,836.75. This represents a 62.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 484,347 shares of company stock valued at $123,930 in the last 90 days. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Carisma Therapeutics

A hedge fund recently bought a new stake in Carisma Therapeutics stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Carisma Therapeutics Inc. (NASDAQ:CARM) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 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 at the end of the most recent quarter. Hedge funds and other 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.