Kalaris Therapeutics (NASDAQ:KLRS) Announces Earnings Results

Key Points

• Kalaris Therapeutics reported a quarterly loss of $0.48 per share, beating the consensus estimate of a $0.50 loss by $0.02.
• The stock opened at $3.94, near the lower end of its $2.14–$11.88 one-year range, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $18.75.
• Director Srinivas Akkaraju purchased 244,300 shares for approximately $1.18 million, increasing his stake by 12.34%; insiders collectively own 68.10% of the company.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.02, Zacks reports.

Kalaris Therapeutics Price Performance

NASDAQ:KLRS opened at $3.94 on Tuesday. Kalaris Therapeutics has a one year low of $2.14 and a one year high of $11.88. The business has a fifty day moving average price of $4.28 and a 200-day moving average price of $6.27. The firm has a market capitalization of $93.73 million, a price-to-earnings ratio of -1.83 and a beta of 0.20.

Insider Transactions at Kalaris Therapeutics

In related news, Director Srinivas Akkaraju purchased 244,300 shares of Kalaris Therapeutics stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $4.83 per share, for a total transaction of $1,179,969.00. Following the completion of the transaction, the director directly owned 2,224,147 shares in the company, valued at $10,742,630.01. This represents a 12.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 68.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC bought a new stake in Kalaris Therapeutics during the 4th quarter worth approximately $51,000. Johnson Financial Group Inc. purchased a new stake in shares of Kalaris Therapeutics in the third quarter worth $58,000. Keel Point LLC purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter worth $86,000. XTX Topco Ltd bought a new stake in shares of Kalaris Therapeutics during the 4th quarter valued at $92,000. Finally, Walleye Capital LLC bought a new stake in shares of Kalaris Therapeutics during the 4th quarter valued at $95,000. 66.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wedbush started coverage on shares of Kalaris Therapeutics in a report on Thursday, May 14th. They set an "outperform" rating and a $17.00 price objective for the company. Citigroup restated an "outperform" rating on shares of Kalaris Therapeutics in a report on Wednesday, May 13th. Weiss Ratings downgraded shares of Kalaris Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Morgan Stanley assumed coverage on shares of Kalaris Therapeutics in a research note on Thursday, April 16th. They set an "overweight" rating and a $14.00 target price for the company. Finally, TD Cowen initiated coverage on Kalaris Therapeutics in a report on Monday, June 15th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source