Kalaris Therapeutics (NASDAQ:KLRS) Shares Down 1.1% - Here's Why

Key Points

• Kalaris Therapeutics (NASDAQ:KLRS) fell 1.1% on Friday, trading as low as $4.33 before last changing hands at $4.44 on lighter-than-normal volume.
• Analyst views are mixed, but the overall consensus remains Moderate Buy with an average price target of $15.60; recent actions included a downgrade from Wall Street Zen and new buy coverage from TD Cowen.
• The company reported a smaller-than-expected quarterly loss of ($0.46) per share, while insider and institutional ownership remain notable, with insiders holding 68.10% and institutions 66.05% of the stock.

Kalaris Therapeutics Inc. (NASDAQ:KLRS - Get Free Report)'s stock price traded down 1.1% during trading on Friday . The company traded as low as $4.33 and last traded at $4.44. 10,280 shares changed hands during trading, a decline of 85% from the average daily volume of 66,382 shares. The stock had previously closed at $4.49.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KLRS. Wall Street Zen cut Kalaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, June 14th. TD Cowen initiated coverage on Kalaris Therapeutics in a research report on Monday, June 15th. They set a "buy" rating for the company. Weiss Ratings upgraded Kalaris Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Citizens Jmp dropped their price target 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. Finally, Morgan Stanley began coverage on Kalaris Therapeutics in a research note on Thursday, April 16th. They set an "overweight" rating and a $14.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.60.

Kalaris Therapeutics Price Performance

The company has a market capitalization of $105.63 million, a PE ratio of -2.07 and a beta of 0.19. The company's fifty day moving average is $4.70 and its 200-day moving average is $7.03.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) last posted its 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. Equities research analysts forecast that Kalaris Therapeutics Inc. will post -2 EPS for the current fiscal year.

Insider Activity at Kalaris Therapeutics

In related news, Director Srinivas Akkaraju acquired 244,300 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $4.83 per share, for a total transaction of $1,179,969.00. Following the purchase, the director directly 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 68.10% of the company's stock.

Hedge Funds Weigh In On Kalaris Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. WealthTrust Asset Management LLC purchased a new stake in shares of Kalaris Therapeutics during the first quarter valued at about $72,000. Simplify Asset Management Inc. grew its position in shares of Kalaris Therapeutics by 335.5% in the 1st quarter. Simplify Asset Management Inc. now owns 87,426 shares of the company's stock worth $504,000 after buying an additional 67,352 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Kalaris Therapeutics during the 4th quarter worth approximately $92,000. Ikarian Capital LLC bought a new position in shares of Kalaris Therapeutics during the 4th quarter worth approximately $3,038,000. Finally, RTW Investments LP purchased a new stake in Kalaris Therapeutics during the fourth quarter valued at approximately $10,972,000. 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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