In a turbulent market environment, shares of Eleven Biotherapeutics (CARM) have touched a 52-week low, dipping to $0.8, marking a 74% decline from its 52-week high of $3.16. According to InvestingPro analysis, the company's current market capitalization stands at approximately $33.6 million. This significant downturn reflects a broader trend of investor caution, as the biotech sector faces headwinds. Over the past year, CARM's stock has experienced a precipitous decline, with a 1-year total return of -67.53%. This downturn has been driven by a combination of factors, including market volatility and challenges specific to the biotech industry. InvestingPro data reveals the company maintains a current ratio of 3.23, indicating strong short-term liquidity, though it's quickly burning through cash. Investors are closely monitoring the company's performance and potential catalysts that may influence its stock price in the upcoming quarters, with analysts setting price targets ranging from $4 to $24.[Get access to 8 more exclusive InvestingPro Tips and comprehensive financial metrics to make better investment decisions.]
In other recent news, Carisma Therapeutics has seen a flurry of activity from analysts and within its operations. H.C. Wainwright has adjusted its financial outlook for Carisma Therapeutics, lowering the price target on the company's shares to $5.00, but maintained a Buy rating. This adjustment follows Carisma's submission of a protocol amendment for its Phase 1 trial of CT-0525 and the anticipated delay in initial data collection due to slower enrollment rates.
On another note, D. Boral (OTC:BOALY) Capital reiterated its Buy rating for Carisma Therapeutics with a $24.00 price target, focusing on the potential of Carisma's product candidate 0525 in treating HER2 Breast Cancer. The firm also acknowledged the value of Carisma's technology platform.
Carisma Therapeutics, in collaboration with Moderna (NASDAQ:MRNA), Inc., has reported encouraging pre-clinical data for its innovative in vivo CAR-M therapy targeting hepatocellular carcinoma. The company's novel cellular therapy, CT-0525, has received Fast Track designation from the FDA, potentially speeding up its development and review process.
In terms of board changes, industry veteran Sohanya Cheng has joined the Board of Directors, coinciding with the resignation of Michael Torok. The company has also expanded its Scientific Advisory Board with the appointment of liver fibrosis experts, Dr. Scott Friedman and Dr. Ira Tabas.
Finally, Carisma Therapeutics has been notified by the Nasdaq Stock Market of a potential delisting due to its market value falling below the required threshold, triggering a 180-day period to regain compliance. These are the recent developments for Carisma Therapeutics.
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