Kalaris Therapeutics (NASDAQ:KLRS) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Kalaris Therapeutics from “hold” to “sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $18.75.
• Kalaris shares opened at $3.38, near their 52-week low of $3.03 and well below the 52-week high of $11.88; the company’s market capitalization is approximately $80.5 million.
• The clinical-stage biotech reported a quarterly loss of $0.48 per share, narrowly beating estimates, while institutional investors and hedge funds own approximately 66.05% of the stock.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Sunday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Kalaris Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. TD Cowen started coverage on shares of Kalaris Therapeutics in a research report on Monday, June 15th. They set a "buy" rating for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.75.

Kalaris Therapeutics Stock Performance

Kalaris Therapeutics stock opened at $3.38 on Friday. Kalaris Therapeutics has a 1 year low of $3.03 and a 1 year high of $11.88. The company has a market cap of $80.48 million, a price-to-earnings ratio of -1.67 and a beta of 0.22. The firm has a 50 day moving average price of $4.04 and a 200 day moving average price of $5.39.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.48) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.02. Sell-side analysts predict that Kalaris Therapeutics will post -1.99 EPS for the current year.

Hedge Funds Weigh In On Kalaris Therapeutics

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of Kalaris Therapeutics during the second quarter worth $65,000. Johnson Financial Group Inc. acquired a new position in shares of Kalaris Therapeutics in the 3rd quarter valued at $58,000. Bridgeway Capital Management LLC purchased a new position in Kalaris Therapeutics in the 3rd quarter worth about $130,000. Woodline Partners LP purchased a new position in Kalaris Therapeutics in the 3rd quarter worth about $1,394,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in Kalaris Therapeutics in the 4th quarter worth about $34,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

About Kalaris Therapeutics

Allovir, Inc, a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases. The company's lead product is posoleucel, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, human herpesvirus 6, and JC virus. Its preclinical and clinical development product candidates include ALVR106 for the respiratory syncytial virus, influenza, parainfluenza virus, and human metapneumovirus; ALVR109 to treat SARS-CoV-2 and COVID-19; ALVR107 for treating hepatitis B; and ALVR108.

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