Kalaris Therapeutics (NASDAQ:KLRS) Shares Down 1.1% – Here’s What Happened

Kalaris Therapeutics Inc. (NASDAQ:KLRS) shares were down 1.1% during trading on Friday . The stock traded as low as $4.33 and last traded at $4.44. 10,280 shares were traded during trading, a decline of 85% from the average session volume of 66,382 shares. The stock had previously closed at $4.49.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wedbush started coverage on Kalaris Therapeutics in a research report on Thursday, May 14th. They issued an “outperform” rating and a $17.00 price objective for the company. TD Cowen started coverage on Kalaris Therapeutics in a research report on Monday, June 15th. They set a “buy” rating on the stock. Morgan Stanley assumed coverage on Kalaris Therapeutics in a research note on Thursday, April 16th. They issued an “overweight” rating and a $14.00 price target for the company. Citigroup restated an “outperform” rating on shares of Kalaris Therapeutics in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Kalaris Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.60.

Kalaris Therapeutics Price Performance

The stock’s fifty day simple moving average is $4.70 and its 200-day simple moving average is $7.03. The firm has a market cap of $105.63 million, a PE ratio of -2.07 and a beta of 0.19.

Kalaris Therapeutics (NASDAQ:KLRS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.06. Analysts expect that Kalaris Therapeutics Inc. will post -2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Srinivas Akkaraju purchased 244,300 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $4.83 per share, for a total transaction of $1,179,969.00. Following the purchase, the director owned 2,224,147 shares in the company, valued at $10,742,630.01. This trade represents a 12.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 68.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KLRS. Nano Cap New Millennium Growth Fund L P purchased a new stake in Kalaris Therapeutics in the fourth quarter valued at approximately $34,000. Barclays PLC acquired a new position in Kalaris Therapeutics in the 4th quarter worth approximately $51,000. Johnson Financial Group Inc. purchased a new position in Kalaris Therapeutics during the 3rd quarter worth approximately $58,000. XTX Topco Ltd purchased a new position in Kalaris Therapeutics during the 2nd quarter worth approximately $65,000. Finally, WealthTrust Asset Management LLC acquired a new stake in Kalaris Therapeutics during the 1st quarter valued at approximately $72,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

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.