Carisma Therapeutics (NASDAQ:CARM) Issues Quarterly Earnings Results

Carisma Therapeutics (NASDAQ:CARM) announced its quarterly earnings data on Wednesday. The company reported $1.07 earnings per share for the quarter, FiscalAI reports. The company had revenue of $45.25 million for the quarter.

Carisma Therapeutics Stock Performance

Shares of NASDAQ CARM traded up $0.01 during mid-day trading on Thursday, hitting $0.06. The stock had a trading volume of 253,964 shares, compared to its average volume of 6,864,021. The firm has a market cap of $2.34 million, a PE ratio of -0.07 and a beta of 1.94. The company has a 50 day moving average of $0.18 and a two-hundred day moving average of $0.27. Carisma Therapeutics has a twelve month low of $0.03 and a twelve month high of $1.27.

Analyst Upgrades and Downgrades

CARM has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Carisma Therapeutics in a research note on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and set a $1.00 price objective on shares of Carisma Therapeutics in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $1.93.

Insider Activity

In other Carisma Therapeutics news, insider Michael Klichinsky sold 200,000 shares of the firm’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 completion of the transaction, the insider directly owned 119,347 shares of the company’s stock, valued at approximately $29,836.75. This trade represents a 62.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 541,329 shares of company stock valued at $138,176 in the last three months. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 13F filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the company’s stock, valued at approximately $62,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.48% of Carisma Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds 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.