Kalaris Therapeutics (NASDAQ:KLRS) Rating Lowered to “Sell” at Wall Street Zen

Kalaris Therapeutics (NASDAQ:KLRS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Kalaris Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, November 4th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Kalaris Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $18.75.

Kalaris Therapeutics Trading Down 5.0%

KLRS opened at $2.30 on Friday. Kalaris Therapeutics has a 12 month low of $1.78 and a 12 month high of $11.88. The stock has a 50-day moving average of $2.72 and a 200 day moving average of $5.23.

Kalaris Therapeutics (NASDAQ:KLRS) last issued 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. On average, analysts expect that Kalaris Therapeutics will post -1.99 earnings per share for the current year.

Hedge Funds Weigh In On Kalaris Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Pale Fire Capital SE purchased a new stake in shares of Kalaris Therapeutics in the 2nd quarter worth $161,000. Velan Capital Investment Management LP increased its stake in shares of Kalaris Therapeutics by 38.9% during the second quarter. Velan Capital Investment Management LP now owns 25,000 shares of the company’s stock valued at $102,000 after buying an additional 7,000 shares during the period. Sigma Planning Corp purchased a new position in shares of Kalaris Therapeutics during the second quarter valued at $41,000. Stonepine Capital Management LLC bought a new stake in shares of Kalaris Therapeutics in the second quarter valued at about $122,597. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Kalaris Therapeutics in the second quarter valued at about $407,000. 66.05% of the stock is currently owned by institutional investors.

About Kalaris Therapeutics

Kalaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for retinal vascular diseases, a group of eye conditions that can lead to vision loss. The company’s research is aimed at addressing diseases in which abnormal blood-vessel growth or leakage damages the retina.

Kalaris Therapeutics’ lead investigational product candidate is KAL-101, an experimental therapy being developed for retinal diseases. The company is advancing KAL-101 through clinical development and evaluating its potential to provide a treatment option for patients with conditions requiring ongoing management of retinal vascular abnormalities.

The company’s activities primarily center on research, clinical development, and the potential commercialization of ophthalmic medicines.