Carisma Therapeutics (CARM) AI Stock Analysis

• Market Cap: $15.27M
• Dividend Yield: N/A
• Average Volume (3M): 1.58M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.84
• Revenue Growth: 32.45%
• EPS Growth: 39.31%
• Country: US
• Employees: 46
• Sector: Healthcare
• Sector Strength: 42
• Industry: Biotechnology
• EPS (TTM): -0.22
• Shares Outstanding: 41,788,097
• 10 Day Avg. Volume: 528,316
• 30 Day Avg. Volume: 1,581,478
• PEG Ratio: -0.02
• Price to Book (P/B): -0.41
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.32
• Enterprise Value/Market Cap: 0.65
• Enterprise Value/Revenue: 2.52
• Enterprise Value/Gross Profit: 12.31
• Enterprise Value/Ebitda: -0.08
• 1Y Price Target: $0.50
• Price Target Upside: 47.06% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 42 Neutral
• Price Target: $0.50 ▲(47.06%Upside)

Carisma Therapeutics faces severe financial difficulties, with negative equity and ongoing losses. Technical indicators suggest a bearish outlook, while valuation metrics reflect the company's struggling position. The recent corporate event highlights compliance issues but also shows attempts to address these challenges.

Positive Factors

Clinical Trials

The mesothelin targeted autologous CAR monocyte program is expected to show evidence of clinical responses and clean safety, which should de-risk and validate the monocyte platform.

Strategic Partnerships

Carisma will focus on developing off-the-shelf products using its in vivo macrophage engineering platform, including those under the Moderna partnership.

Negative Factors

Program Discontinuation

Carisma Therapeutics announced that it would be discontinuing development of its lead program, CT-0525.

Workforce Reduction

As part of the strategic restructuring, Carisma will reduce its workforce by 34%.

Carisma Therapeutics Business Overview & Revenue Model

Company Description

Carisma Therapeutics (CARM) is a biotechnology company focused on developing innovative immunotherapies for the treatment of cancer and other serious diseases. The company specializes in the engineering of macrophages, a type of white blood cell, to harness the power of the immune system to target and eliminate cancer cells. Carisma's proprietary technology platform aims to create a new class of cell therapies that can overcome the limitations of current cancer treatments.

How the Company Makes Money

Carisma Therapeutics makes money primarily through the development and commercialization of its proprietary immunotherapy products. The company generates revenue through partnerships and collaborations with other biotech and pharmaceutical companies, which may include milestone payments, royalties, and licensing fees related to its technology and drug candidates. Additionally, Carisma may receive funding from grants and research contracts to support its ongoing research and development activities. The company's earnings are significantly influenced by its ability to advance its product pipeline through clinical trials and achieve regulatory approvals, as well as its success in securing strategic alliances and partnerships.

Carisma Therapeutics Financial Statement Overview

Summary

Carisma Therapeutics is facing significant financial challenges across all verticals. The income statement shows persistent losses, the balance sheet reflects financial instability with negative equity, and cash flow statements indicate liquidity issues. The company needs to address operational inefficiencies and improve its financial health to ensure long-term sustainability.

Income Statement

Carisma Therapeutics has shown a declining revenue trend with a significant drop in profitability. The TTM (Trailing-Twelve-Months) gross profit margin is relatively high at 95.38%, but the company is struggling with negative EBIT and net profit margins, indicating operational inefficiencies and high costs relative to revenue. The revenue growth rate is modest at 1.69% from the previous year, but the persistent net losses are concerning.

Balance Sheet

The balance sheet reveals a challenging financial position with negative stockholders' equity, indicating liabilities exceed assets. The debt-to-equity ratio is not applicable due to negative equity, and the equity ratio is also negative, reflecting financial instability. The company's high liabilities and negative equity pose significant risks.

Cash Flow

Carisma Therapeutics has negative operating and free cash flows, indicating cash outflows exceed inflows. The operating cash flow to net income ratio is 0.94, suggesting cash flow issues. Although there is a slight improvement in free cash flow growth rate, the overall cash flow position remains weak, raising concerns about liquidity.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	19.63M	14.92M	9.83M	26.54M	11.24M
Gross Profit	16.28M	-59.21M	3.74M	26.46M	11.24M
EBITDA	-58.83M	-85.89M	-51.99M	-40.11M	-27.93M
Net Income	-60.48M	-86.88M	-61.23M	-40.78M	-28.35M
Balance Sheet
Total Assets	30.46M	89.55M	72.15M	35.45M	58.46M
Cash, Cash Equivalents and Short-Term Investments	17.91M	77.61M	52.00M	28.55M	51.79M
Total Debt	2.48M	3.12M	40.16M	2.63M	3.44M
Total Liabilities	58.37M	63.02M	101.28M	9.43M	8.31M
Stockholders Equity	-27.91M	26.53M	-49.26M	11.63M	35.76M
Cash Flow
Free Cash Flow	-60.04M	-82.31M	-12.23M	-39.20M	-27.45M
Operating Cash Flow	-59.92M	-81.18M	-7.57M	-37.33M	-27.01M
Investing Cash Flow	-123.00K	72.41M	-32.56M	-1.87M	-440.00K
Financing Cash Flow	344.00K	62.18M	35.77M	15.96M	72.26M

Carisma Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.34
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CARM, the sentiment is Negative. The current price of 0.34 is below the 20-day moving average (MA) of 0.40, below the 50-day MA of 0.36, and below the 200-day MA of 0.49, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.09 is Neutral, neither overbought nor oversold. The STOCH value of 15.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CARM.

Carisma Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KPRX	56 Neutral	$8.92M	4.67	-41.13%	―	―	―
Sector *	52 Neutral	kr5.61B	10.15	-63.86%	2.10%	27.11%	26.73%
DWTX	49 Neutral	$9.21M	―	-451.34%	―	―	-57.84%
CARM	42 Neutral	$15.27M	―	-362.79%	―	32.45%	39.31%
ACXP	39 Underperform	$12.55M	―	-285.79%	―	―	23.65%
TSBX	34 Underperform	$8.16M	―	-126.03%	―	-100.00%	-27.44%

Carisma Therapeutics Corporate Events

Carisma Therapeutics Transfers Listing to Nasdaq Capital Market

On January 6, 2025, Carisma Therapeutics was notified by Nasdaq that it failed to meet the minimum bid price requirement for continued listing on the Nasdaq Global Market. Despite being given a grace period until July 7, 2025, the company did not regain compliance, leading to a potential delisting threat. Following a hearing, Nasdaq allowed Carisma to transfer its listing to the Nasdaq Capital Market effective June 12, 2025, with a deadline to meet all listing criteria by October 7, 2025. To address this, Carisma scheduled a special stockholders’ meeting for August 5, 2025, to approve a reverse stock split aimed at increasing its share price and maintaining its listing status.

The most recent analyst rating on (CARM) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Carisma Therapeutics stock, see the CARM Stock Forecast page.

Carisma Therapeutics Announces Merger with OrthoCellix

On June 22, 2025, Carisma Therapeutics announced a merger agreement with OrthoCellix, a subsidiary of Ocugen, to create a Nasdaq-listed company focused on regenerative cell therapies for orthopedic diseases. The merger will result in OrthoCellix owning approximately 90% of the combined entity, with plans to initiate a Phase 3 clinical trial for its NeoCart® technology by the end of 2025, potentially impacting the market for cartilage repair solutions.

The most recent analyst rating on (CARM) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Carisma Therapeutics stock, see the CARM Stock Forecast page.

Carisma Therapeutics Secures Nasdaq Listing Approval

On June 10, 2025, Carisma Therapeutics received approval from a Nasdaq Hearings Panel to continue its listing on Nasdaq, with the listing being transferred to the Nasdaq Capital Market effective June 12, 2025. Despite previous non-compliance with Nasdaq’s listing rules, the company has been granted an extension until October 7, 2025, to meet specific conditions, including maintaining a minimum bid price and completing a strategic transaction, to ensure continued listing.

The most recent analyst rating on (CARM) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Carisma Therapeutics stock, see the CARM Stock Forecast page.