Kalaris Therapeutics (NASDAQ:KLRS) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Kalaris Therapeutics from “sell” to “hold.” Despite mixed analyst views, the stock has a consensus “Moderate Buy” rating and an average price target of $18.75.
• Kalaris Therapeutics opened at $3.90, near the lower end of its 52-week range of $3.03 to $11.88. The company has a market capitalization of approximately $92.86 million and negative earnings.
• The company reported a quarterly loss of $0.48 per share, beating analysts’ estimate of a $0.50 loss. Hedge funds and other institutional investors own approximately 66.05% of the stock.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the company. Citizens Jmp dropped their price objective on Kalaris Therapeutics from $26.00 to $25.00 and set a "market outperform" rating for the company in a report on Wednesday, May 13th. TD Cowen initiated coverage on Kalaris Therapeutics in a report on Monday, June 15th. They issued a "buy" rating on the stock. Weiss Ratings downgraded Kalaris Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Wedbush assumed coverage on Kalaris Therapeutics in a report on Thursday, May 14th. They issued an "outperform" rating and a $17.00 price objective on the stock. Finally, Citigroup restated an "outperform" rating on shares of Kalaris Therapeutics in a report on Wednesday, May 13th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.75.

Kalaris Therapeutics Stock Performance

Kalaris Therapeutics stock opened at $3.90 on Friday. Kalaris Therapeutics has a 1 year low of $3.03 and a 1 year high of $11.88. The firm has a 50 day moving average price of $4.13 and a 200 day moving average price of $5.60. The company has a market cap of $92.86 million, a price-to-earnings ratio of -1.93 and a beta of 0.22.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) last posted its quarterly 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Pale Fire Capital SE acquired a new position in shares of Kalaris Therapeutics during the second quarter worth about $161,000. Velan Capital Investment Management LP grew its stake in shares of Kalaris Therapeutics by 38.9% in the second quarter. Velan Capital Investment Management LP now owns 25,000 shares of the company's stock valued at $102,000 after buying an additional 7,000 shares in the last quarter. Sigma Planning Corp acquired a new stake in shares of Kalaris Therapeutics in the second quarter valued at about $41,000. Stonepine Capital Management LLC purchased a new stake in shares of Kalaris Therapeutics during the 2nd quarter valued at about $122,597. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Kalaris Therapeutics during the 2nd quarter valued at about $407,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Kalaris Therapeutics Company Profile

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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