Kalaris Therapeutics (NASDAQ:KLRS) Trading 7% Higher - Here's What Happened

Key Points

• Kalaris Therapeutics (NASDAQ:KLRS) saw its stock price increase by 7% during trading, reaching a high of $4.98 before closing at $4.76.
• Analysts have mixed opinions on the stock, with ratings ranging from a strong buy to a sell, leading to an average rating of "hold" and a consensus price target of $3.00.
• Recently, XTX Topco Ltd acquired a new stake in Kalaris Therapeutics, highlighting growing institutional interest in the company, which currently has 66.05% of its shares owned by institutional investors.

Kalaris Therapeutics Inc. (NASDAQ:KLRS - Get Free Report) traded up 7% during trading on Monday . The company traded as high as $4.98 and last traded at $4.76. 283,792 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 261,732 shares. The stock had previously closed at $4.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KLRS shares. Wall Street Zen upgraded shares of Kalaris Therapeutics to a "hold" rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a "sell (e)" rating on shares of Kalaris Therapeutics in a research report on Wednesday, October 8th. Raymond James Financial started coverage on shares of Kalaris Therapeutics in a research report on Tuesday, September 2nd. They set a "strong-buy" rating for the company. Finally, Piper Sandler set a $3.00 price target on shares of Kalaris Therapeutics and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3.00.

Kalaris Therapeutics Stock Performance

The firm's fifty day simple moving average is $4.19.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.10).

Hedge Funds Weigh In On Kalaris Therapeutics

An institutional investor recently bought a new position in Kalaris Therapeutics stock. XTX Topco Ltd acquired a new stake in Kalaris Therapeutics Inc. (NASDAQ:KLRS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,234 shares of the company's stock, valued at approximately $65,000. XTX Topco Ltd owned 0.13% of Kalaris Therapeutics as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 66.05% of the company's stock.

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.

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