Kalaris Therapeutics (NASDAQ:KLRS) Stock Falls 8.7% - Time to Sell?

Key Points

• Kalaris Therapeutics shares fell 8.7% to $2.00 in mid-day trading, with volume below the stock’s average. The company has a market capitalization of approximately $47.6 million and trades below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: six analysts rate the stock a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and an average price target of $18.75. However, recent rating changes from Weiss Ratings and Wall Street Zen were bearish.
• The clinical-stage biotech slightly exceeded quarterly EPS expectations, reporting a loss of $0.48 versus the expected $0.50 loss. Its lead candidate, KAL-001, remains in clinical development for retinal vascular diseases and has not been proven safe or effective for commercial use.

Shares of Kalaris Therapeutics Inc. (NASDAQ:KLRS - Get Free Report) were down 8.7% during mid-day trading on Friday. The company traded as low as $2.00 and last traded at $2.00. Approximately 58,401 shares traded hands during trading, a decline of 31% from the average daily volume of 84,670 shares. The stock had previously closed at $2.19.

Wall Street Analysts Forecast Growth

KLRS has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Kalaris Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 24th. Wall Street Zen lowered Kalaris Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, September 13th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.75.

Kalaris Therapeutics Price Performance

The stock has a 50-day moving average of $3.35 and a 200 day moving average of $4.36. The stock has a market capitalization of $47.62 million, a price-to-earnings ratio of -0.99 and a beta of 0.42.

Kalaris Therapeutics (NASDAQ:KLRS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.02. Sell-side analysts anticipate that Kalaris Therapeutics Inc. will post -1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kalaris Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC bought a new position in shares of Kalaris Therapeutics during the second quarter worth about $407,000. Simplify Asset Management Inc. increased its holdings 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 acquiring an additional 67,352 shares during the period. BlackRock Inc. acquired a new stake in shares of Kalaris Therapeutics in the 2nd quarter worth about $222,000. Pale Fire Capital SE bought a new stake in Kalaris Therapeutics in the 2nd quarter valued at about $161,000. Finally, Stonepine Capital Management LLC bought a new stake in Kalaris Therapeutics in the 2nd quarter valued at about $122,597. Institutional investors and hedge funds own 66.05% of the company's stock.

About Kalaris Therapeutics

Kalaris Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for retinal vascular diseases. The company's work is aimed at addressing conditions in which abnormal blood-vessel growth or leakage can impair vision.

Kalaris Therapeutics' lead investigational product is KAL-001, an ophthalmic biologic being developed for retinal diseases, including conditions such as diabetic macular edema and neovascular age-related macular degeneration. The company's pipeline remains under clinical development, and its products have not been established as safe or effective for commercial use.

The company is headquartered in the United States and is focused primarily on advancing its retinal-disease research and clinical programs.

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.