Carlsmed, Inc. (NASDAQ:CARL) Short Interest Update

Carlsmed, Inc. (NASDAQ:CARL) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 1,307,106 shares, an increase of 101.3% from the May 14th total of 649,325 shares. Based on an average daily volume of 311,376 shares, the days-to-cover ratio is presently 4.2 days. Approximately 4.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its stake in Carlsmed by 6.8% during the 4th 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 in the last quarter. Barclays PLC increased its stake in Carlsmed by 10.6% during the 4th quarter. Barclays PLC now owns 10,633 shares of the company’s stock valued at $131,000 after purchasing an additional 1,021 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Carlsmed by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company’s stock valued at $1,979,000 after purchasing an additional 1,292 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Carlsmed during the 3rd quarter valued at approximately $33,000. Finally, JPMorgan Chase & Co. acquired a new position in Carlsmed during the 3rd quarter valued at approximately $37,000.

Carlsmed Trading Down 1.7%

NASDAQ CARL opened at $11.42 on Friday. The company has a quick ratio of 11.67, a current ratio of 11.88 and a debt-to-equity ratio of 0.17. The firm has a market cap of $310.40 million and a PE ratio of -4.55. The company has a 50 day moving average price of $10.55 and a 200 day moving average price of $11.86. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.19.

Carlsmed (NASDAQ:CARL) last posted 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 during the quarter. As a group, sell-side analysts forecast that Carlsmed will post -1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CARL. Zacks Research upgraded shares of Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Wall Street Zen lowered shares of Carlsmed from a “hold” rating to a “sell” rating in a research note on Saturday. BTIG Research reiterated a “buy” rating and set a $23.00 price objective on shares of Carlsmed in a research note on Wednesday, May 6th. The Goldman Sachs Group reduced 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. Finally, Truist Financial reduced 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. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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”).