Buy Rating on Carisma Therapeutics: Pioneering CAR-M Therapies in Oncology and Fibrosis

Analyst Naureen Quibria of Capital One Financial reiterated a Buy rating on Carisma Therapeutics (CARM – Research Report), retaining the price target of $10.00.

Naureen Quibria’s rating is based on Carisma Therapeutics’ promising developments in the field of CAR-engineered macrophages (CAR-M) and its potential to revolutionize treatment for solid tumors and fibrotic diseases. Quibria believes that Carisma’s lead therapeutic, CT-0508, targeting HER-2 for solid tumors, shows significant promise. Additionally, the company’s innovative approach to fibrosis, which involves genetically engineered macrophages, could lead to breakthrough treatments for liver and lung fibrosis. These preclinical advancements suggest a robust potential for Carisma to make a substantial impact in the biopharmaceutical sector.

Furthermore, the anticipation of Carisma debuting its non-oncology asset at the American Society of Gene and Cell Therapy (ASGCT) conference enhances the company’s visibility and hints at future strategic partnerships. Quibria notes that the upcoming presentations of preclinical proof-of-concept data in fibrosis and further updates on the CT-0508/pembro combo study are significant catalysts that could drive the company’s value. The data thus far indicates not only a strong efficacy in reversing fibrosis in preclinical models but also a favorable safety profile, which collectively contribute to the Buy rating and positive outlook for Carisma Therapeutics’ stock.

In another report released on April 11, BTIG also initiated coverage with a Buy rating on the stock with a $6.00 price target.

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Carisma Therapeutics (CARM) Company Description:

Sesen Bio, Inc. engages in designing, engineering, and developing of targeted protein therapeutics. It offers the Vicinium and Proxinium which target tumor cell surface antigens that allow for rapid internalization into the targeted cancer cell and also have limited expression on normal cells. The company was founded by Reza Dana, K. Christopher Garcia, Gregory L. Verdine, Casey T. Weaver and K. Dane Wittrup on February 25, 2008 and is headquartered in Cambridge, MA.