Kalaris Therapeutics (NASDAQ:KLRS) Issues Earnings Results

Kalaris Therapeutics (NASDAQ:KLRS) released its quarterly earnings results on Tuesday. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.02, Zacks reports.

Kalaris Therapeutics Trading Up 2.9%

Shares of NASDAQ:KLRS traded up $0.12 during mid-day trading on Tuesday, hitting $4.05. 2,532 shares of the company traded hands, compared to its average volume of 152,747. The stock has a 50-day moving average price of $4.28 and a two-hundred day moving average price of $6.27. Kalaris Therapeutics has a 12-month low of $2.14 and a 12-month high of $11.88. The stock has a market cap of $96.47 million, a P/E ratio of -1.89 and a beta of 0.20.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju acquired 244,300 shares of Kalaris Therapeutics stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $4.83 per share, with a total value of $1,179,969.00. Following the transaction, the director owned 2,224,147 shares of the company’s stock, valued at approximately $10,742,630.01. This trade represents a 12.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 68.10% of the company’s stock.

Institutional Trading of Kalaris Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC bought a new stake in Kalaris Therapeutics during the fourth quarter worth $51,000. Johnson Financial Group Inc. purchased a new stake in Kalaris Therapeutics in the 3rd quarter worth about $58,000. XTX Topco Ltd bought a new stake in Kalaris Therapeutics in the 2nd quarter valued at about $65,000. Keel Point LLC bought a new stake in Kalaris Therapeutics in the 4th quarter valued at about $86,000. Finally, Walleye Capital LLC purchased a new stake in Kalaris Therapeutics during the fourth quarter valued at about $95,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KLRS has been the subject of a number of analyst reports. Citizens Jmp lowered their target price on shares of Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley started coverage on Kalaris Therapeutics in a report on Thursday, April 16th. They set an “overweight” rating and a $14.00 price target for the company. TD Cowen started coverage on Kalaris Therapeutics in a research note on Monday, June 15th. They issued a “buy” rating on the stock. Weiss Ratings downgraded Kalaris Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Finally, Citigroup restated an “outperform” rating on shares of Kalaris Therapeutics in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.