Carisma Therapeutics price target lowered to $1 from $12 at D. Boral Capital

D. Boral Capital lowered the firm’s price target on Carisma Therapeutics (CARM) to $1 from $12 and keeps a Buy rating on the shares after the company announced a strategic shift – including a workforce reduction – aimed at maximizing the value of its assets, including its liver fibrosis and oncology programs, proprietary macrophage and monocyte engineering platforms, and the CAR-M platform. The firm, which says it had originally hoped the company could find the needed capital to pursue its macrophage CAR-M strategy, notes “that has not happened” and it is lowering its view of the technology value.