Jupiter Topco LLC Acquires New Holdings in Carlsmed, Inc. $CARL

Jupiter Topco LLC bought a new position in Carlsmed, Inc. (NASDAQ:CARL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,251,616 shares of the company’s stock, valued at approximately $12,992,000. Jupiter Topco LLC owned about 4.58% of Carlsmed as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in shares of Carlsmed by 6.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,800 shares of the company’s stock valued at $195,000 after purchasing an additional 1,000 shares during the period. Barclays PLC lifted its position in Carlsmed by 10.6% during the 4th quarter. Barclays PLC now owns 10,633 shares of the company’s stock worth $131,000 after acquiring an additional 1,021 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Carlsmed by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company’s stock valued at $1,979,000 after acquiring an additional 1,292 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Carlsmed in the third quarter valued at about $33,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Carlsmed in the third quarter valued at about $37,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings raised Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Needham & Company LLC began coverage on Carlsmed in a research report on Wednesday, July 1st. They issued a “buy” rating and a $17.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $23.00 target price on shares of Carlsmed in a research report on Wednesday, May 6th. Truist Financial increased their price target on shares of Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

Carlsmed Stock Performance

Shares of NASDAQ CARL opened at $16.88 on Friday. Carlsmed, Inc. has a one year low of $8.50 and a one year high of $17.23. The company has a current ratio of 8.84, a quick ratio of 8.66 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $12.84 and a 200 day simple moving average of $11.61. The firm has a market capitalization of $460.82 million and a price-to-earnings ratio of -11.80.

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $18.94 million for the quarter. Carlsmed had a negative net margin of 57.42% and a negative return on equity of 38.06%. Sell-side analysts expect that Carlsmed, Inc. will post -1.5 EPS for the current year.

About Carlsmed

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).