Kailera Therapeutics, Inc. (NASDAQ:KLRA) Short Interest Up 96.0% in June

Kailera Therapeutics, Inc. (NASDAQ:KLRA) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 5,097,048 shares, an increase of 96.0% from the June 15th total of 2,599,881 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average trading volume of 1,667,724 shares, the days-to-cover ratio is currently 3.1 days.

Insiders Place Their Bets

In related news, Director Adam Koppel acquired 1,562,500 shares of the business’s stock in a transaction on Monday, April 20th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $25,000,000.00. Following the completion of the transaction, the director directly owned 22,583,268 shares of the company’s stock, valued at approximately $361,332,288. The trade was a 7.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Kaplan acquired 8,398,438 shares of Kailera Therapeutics stock in a transaction dated Monday, April 20th. The shares were purchased at an average price of $16.00 per share, with a total value of $134,375,008.00. Following the acquisition, the director owned 26,255,581 shares of the company’s stock, valued at approximately $420,089,296. This trade represents a 47.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 10,460,938 shares of company stock worth $167,375,008 over the last three months.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KLRA. Zacks Research upgraded Kailera Therapeutics to a “hold” rating in a research note on Wednesday, May 13th. Jefferies Financial Group assumed coverage on Kailera Therapeutics in a report on Tuesday, May 12th. They set a “buy” rating and a $48.00 target price for the company. Wall Street Zen cut shares of Kailera Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Leerink Partners initiated coverage on shares of Kailera Therapeutics in a research note on Tuesday, May 12th. They issued an “outperform” rating and a $36.00 price target on the stock. Finally, Evercore began coverage on shares of Kailera Therapeutics in a research report on Tuesday, May 12th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Kailera Therapeutics currently has a consensus rating of “Buy” and an average target price of $42.75.

Kailera Therapeutics Trading Up 1.3%

NASDAQ KLRA opened at $18.55 on Friday. The firm has a market capitalization of $2.40 billion and a P/E ratio of -0.01. The company has a 50 day simple moving average of $20.87. Kailera Therapeutics has a 1-year low of $17.61 and a 1-year high of $28.23.

Kailera Therapeutics (NASDAQ:KLRA) last issued its quarterly earnings results on Tuesday, May 26th. The company reported ($3,650.00) earnings per share (EPS) for the quarter.

Kailera Therapeutics Company Profile

We are an advanced clinical-stage biotechnology company focused on elevating the next era of obesity care by advancing a diversified pipeline to provide options for people living with obesity no matter where they are in their treatment journey. Obesity is a chronic, progressive and debilitating disease that impacts over 1 billion people globally and requires long-term comprehensive treatment. Since obesity is the driving factor for more than 200 comorbidities and represents a significant contributor to increased morbidity and mortality, our vision is to deliver category-leading obesity management medications that give people the power to restore their health and transform their lives.