Evercore ISI downgraded Carisma Therapeutics (CARM) to In Line from Outperform with a price target of 70c, down from $4. With its second major pipeline shift this year, Carisma is focusing on in vivo CAR-M for liver fibrosis while collaborating with partner Moderna (MRNA) on oncology and autoimmune disease, but with a line of sight to an IND 2026, Carisma is now “back in preclinical stage for its wholly owned pipeline,” the analyst tells investors. Given that the company is a couple of years away from a meaningful data catalyst, and in light of the cash runway, the firm reduced its price target and rating.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CARM:
- Carisma Therapeutics downgraded to Neutral from Buy at BTIG
- Carisma Therapeutics price target lowered to $12 from $24 at D. Boral Capital
- Carisma Therapeutics announces restructuring, 34% workforce reduction
- Carisma Therapeutics Restructures Amid Strategic Refocus
- Carisma Therapeutics price target lowered to $5 from $8 at H.C. Wainwright