Sectoral Asset Management Inc. Invests $589,000 in Carlsmed, Inc. $CARL

Sectoral Asset Management Inc. bought a new position in shares of Carlsmed, Inc. (NASDAQ:CARL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,700 shares of the company’s stock, valued at approximately $589,000.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. purchased a new stake in Carlsmed during the 3rd quarter valued at about $2,026,000. Teacher Retirement System of Texas purchased a new stake in Carlsmed during the 3rd quarter valued at about $2,343,000. Monashee Investment Management LLC purchased a new stake in Carlsmed during the 3rd quarter valued at about $536,000. Ghisallo Capital Management LLC purchased a new stake in Carlsmed during the 3rd quarter valued at about $670,000. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Carlsmed during the 3rd quarter valued at about $736,000.

Carlsmed Price Performance

Shares of CARL opened at $12.11 on Monday. The firm has a 50-day simple moving average of $10.28 and a two-hundred day simple moving average of $11.98. The stock has a market cap of $329.21 million and a PE ratio of -4.82. Carlsmed, Inc. has a 1-year low of $8.50 and a 1-year high of $17.19. The company has a debt-to-equity ratio of 0.17, a current ratio of 11.88 and a quick ratio of 11.67.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The firm had revenue of $16.12 million for the quarter. As a group, analysts forecast that Carlsmed, Inc. will post -1.35 EPS for the current year.

Analyst Ratings Changes

CARL has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Truist Financial dropped their price objective on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Zacks Research raised shares of Carlsmed from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, BTIG Research reiterated a “buy” rating and issued a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.33.

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”).