Carlsmed (NASDAQ:CARL) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Carlsmed, Inc. (NASDAQ:CARL) shares passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $14.91 and traded as high as $19.15. Carlsmed shares last traded at $18.60, with a volume of 609,879 shares.

Recent Carlsmed Headlines

Here are a few of the latest headlines about CARL:

• Positive Sentiment: Several firms raised their targets while maintaining Buy ratings: BTIG lifted its target to $26 from $24, Truist to $23 from $20, and Needham to $22 from $17. The revisions signal improved analyst expectations following the quarterly report. Analysts raise Carlsmed forecasts
• Neutral Sentiment: Broad strength in biotech and healthcare stocks may have added to CARL’s move, so sector-wide momentum could be contributing alongside the company-specific news. Healthcare stocks move higher
• Negative Sentiment: Despite beating the quarterly loss estimate, Carlsmed remains unprofitable, reporting a loss for the quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Truist Financial raised their price objective on Carlsmed from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC lifted their price objective on Carlsmed from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Carlsmed in a report on Wednesday, November 4th. Finally, BTIG Research raised their price target on shares of Carlsmed from $24.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Four equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Carlsmed Trading Up 26.4%

The business’s 50-day moving average is $14.91 and its two-hundred day moving average is $12.54. 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 stock has a market capitalization of $507.78 million, a PE ratio of -12.57 and a beta of 1.97.

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.08. The firm had revenue of $21.55 million during the quarter. Carlsmed had a negative return on equity of 40.55% and a negative net margin of 55.82%. On average, analysts predict that Carlsmed, Inc. will post -1.50 earnings per share for the current year.

Institutional Trading of Carlsmed

A number of hedge funds and other institutional investors have recently modified their holdings of CARL. Jupiter Topco LLC purchased a new stake in Carlsmed during the 2nd quarter worth approximately $12,992,000. Janus Henderson Group PLC raised its holdings in shares of Carlsmed by 7.6% during the first quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock worth $11,108,000 after purchasing an additional 86,834 shares during the period. Parkman Healthcare Partners LLC acquired a new stake in Carlsmed during the second quarter worth about $6,200,000. BlackRock Inc. acquired a new stake in shares of Carlsmed during the 2nd quarter worth approximately $5,528,000. Finally, Russell Investments Group Ltd. lifted its stake in Carlsmed by 85.3% in the third quarter. Russell Investments Group Ltd. now owns 257,805 shares of the company’s stock valued at $3,627,000 after buying an additional 118,663 shares during the last quarter.

About Carlsmed

Carlsmed, Inc. is a medical technology company focused on personalized solutions for spine surgery. Its technology uses patient-specific planning and implant design to help surgeons plan spinal-fusion procedures. The company’s products include aprevo®, a line of patient-specific interbody implants made using 3D printing. Carlsmed’s platform is designed to use a patient’s imaging and surgical plan to tailor implant geometry and support alignment goals. Founded in 2018 and based in Carlsbad, California, Carlsmed serves the U.S. market.