Kalaris Therapeutics Inc. (NASDAQ:KLRS) Short Interest Update

Key Points

• Short interest fell by 15.3% in April to 842,687 shares; about 14.7% of the stock is sold short and the days-to-cover ratio is 9.5.
• Morgan Stanley initiated coverage with an overweight rating and a $14 price target, and MarketBeat's consensus rating is "Moderate Buy" with a $14 average target.
• KLRS trades around $5.48 (market cap ≈ $125.9M) and reported a quarterly EPS of ($0.44) beating estimates, but remains unprofitable with a negative P/E.

Kalaris Therapeutics Inc. (NASDAQ:KLRS - Get Free Report) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 842,687 shares, a decrease of 15.3% from the March 31st total of 995,274 shares. Based on an average trading volume of 88,874 shares, the days-to-cover ratio is presently 9.5 days. Approximately 14.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Kalaris Therapeutics

A number of large investors have recently made changes to their positions in KLRS. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter valued at approximately $34,000. Barclays PLC purchased a new position in Kalaris Therapeutics in the fourth quarter worth approximately $51,000. Johnson Financial Group Inc. purchased a new position in Kalaris Therapeutics in the third quarter worth approximately $58,000. XTX Topco Ltd purchased a new position in Kalaris Therapeutics in the second quarter worth approximately $65,000. Finally, Keel Point LLC purchased a new position in Kalaris Therapeutics in the fourth quarter worth approximately $86,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on KLRS. Morgan Stanley began coverage on Kalaris Therapeutics in a report on Thursday, April 16th. They set an "overweight" rating and a $14.00 target price for the company. Wall Street Zen raised Kalaris Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Kalaris Therapeutics Stock Performance

Shares of KLRS stock traded down $0.04 during trading hours on Friday, reaching $5.48. The company had a trading volume of 80,551 shares, compared to its average volume of 73,063. The stock has a fifty day moving average of $7.44 and a 200-day moving average of $7.47. The company has a market capitalization of $125.94 million, a price-to-earnings ratio of -1.30 and a beta of 0.18. Kalaris Therapeutics has a 12-month low of $2.14 and a 12-month high of $11.88.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.12. On average, analysts forecast that Kalaris Therapeutics will post -2.18 EPS for the current year.

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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