Why Are Carisma Therapeutics Shares Surging Friday?
Portfolio Pulse from Vaishali Prayag
Carisma Therapeutics Inc. (NASDAQ:CARM) shares surged on Friday following a significant development in its collaboration with Moderna. Carisma nominated its first in vivo CAR-M development candidate targeting Glypican-3 (GPC3) for treating solid tumors, triggering a $2 million payment from Moderna. HC Wainwright & Co. reiterated a Buy rating with a price target of $8.
June 28, 2024 | 5:59 pm
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Carisma Therapeutics shares surged 14.9% after announcing a significant milestone in its collaboration with Moderna, nominating its first in vivo CAR-M development candidate targeting GPC3 for solid tumors. This triggered a $2 million payment from Moderna. HC Wainwright & Co. reiterated a Buy rating with a price target of $8.
The announcement of a significant milestone in Carisma's collaboration with Moderna, along with a $2 million payment and a reiterated Buy rating from HC Wainwright & Co., has positively impacted the stock price. The development candidate's potential in treating solid tumors adds to the positive sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100