Kalaris Therapeutics Inc. (NASDAQ:KLRS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately bullish: Eight brokerages give Kalaris Therapeutics an average “Moderate Buy” rating, with six buys, one strong buy and one sell. The average 12-month price target is $18.75.
• Shares remain under pressure: KLRS opened at $4.19 and was down 3.0%, well below its 12-month high of $11.88. The company reported a quarterly loss of $0.46 per share, beating estimates of a $0.52 loss.
• Insider ownership is substantial: Director Srinivas Akkaraju bought 244,300 shares worth about $1.18 million, while company insiders collectively own 68.1% of the stock.

Shares of Kalaris Therapeutics Inc. (NASDAQ:KLRS - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.75.

KLRS has been the topic of a number of analyst reports. Wall Street Zen cut shares of Kalaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, June 14th. Weiss Ratings lowered Kalaris Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 28th. Citigroup reissued an "outperform" rating on shares of Kalaris Therapeutics in a report on Wednesday, May 13th. Morgan Stanley began coverage on Kalaris Therapeutics in a research report on Thursday, April 16th. They issued an "overweight" rating and a $14.00 price objective on the stock. Finally, Citizens Jmp lowered their price objective on Kalaris Therapeutics from $26.00 to $25.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 13th.

Kalaris Therapeutics Trading Down 3.0%

NASDAQ KLRS opened at $4.19 on Thursday. Kalaris Therapeutics has a 12 month low of $2.14 and a 12 month high of $11.88. The stock has a market cap of $99.68 million, a price-to-earnings ratio of -1.95 and a beta of 0.20. The company's 50 day moving average is $4.35 and its two-hundred day moving average is $6.39.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.46) earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.06. Sell-side analysts forecast that Kalaris Therapeutics will post -2 EPS for the current year.

Insider Transactions at Kalaris Therapeutics

In other Kalaris Therapeutics news, Director Srinivas Akkaraju bought 244,300 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $4.83 per share, with a total value of $1,179,969.00. Following the purchase, the director owned 2,224,147 shares of the company's stock, valued at $10,742,630.01. This trade represents a 12.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 68.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KLRS. Nano Cap New Millennium Growth Fund L P purchased a new stake in Kalaris Therapeutics during the 4th quarter valued at approximately $34,000. Barclays PLC purchased a new position in shares of Kalaris Therapeutics in the fourth quarter worth $51,000. Johnson Financial Group Inc. purchased a new position in shares of Kalaris Therapeutics in the third quarter worth $58,000. XTX Topco Ltd bought a new position in shares of Kalaris Therapeutics during the second quarter worth $65,000. Finally, WealthTrust Asset Management LLC bought a new position in shares of Kalaris Therapeutics during the first quarter worth $72,000. 66.05% of the stock is currently owned by institutional investors.

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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