Kailera Therapeutics (NASDAQ:KLRA) Shares Down 8.6% – Here’s Why

Kailera Therapeutics, Inc. (NASDAQ:KLRA)’s share price fell 8.6% on Friday . The company traded as low as $16.81 and last traded at $16.93. Approximately 300,058 shares were traded during trading, a decline of 58% from the average session volume of 718,964 shares. The stock had previously closed at $18.53.

Wall Street Analysts Forecast Growth

KLRA has been the topic of several analyst reports. William Blair initiated coverage on Kailera Therapeutics in a report on Tuesday, May 12th. They set an “outperform” rating on the stock. Evercore started coverage on Kailera Therapeutics in a research report on Tuesday, May 12th. They issued an “outperform” rating for the company. Leerink Partners assumed coverage on shares of Kailera Therapeutics in a research note on Tuesday, May 12th. They set an “outperform” rating and a $36.00 price target for the company. TD Cowen began coverage on Kailera Therapeutics in a report on Tuesday, May 12th. They set a “buy” rating and a $57.00 price objective for the company. Finally, Zacks Research upgraded Kailera Therapeutics to a “hold” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Kailera Therapeutics Stock Performance

The stock has a market cap of $2.10 billion and a P/E ratio of -0.00. The company has a 50-day simple moving average of $19.09.

Kailera Therapeutics (NASDAQ:KLRA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.35). As a group, equities research analysts predict that Kailera Therapeutics, Inc. will post -3.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kailera Therapeutics

Several large investors have recently bought and sold shares of the business. California State Teachers Retirement System bought a new position in Kailera Therapeutics in the second quarter valued at approximately $309,000. Frazier Life Sciences Management L.P. acquired a new position in shares of Kailera Therapeutics in the 2nd quarter valued at $24,233,000. Wellington Management Group LLP bought a new position in shares of Kailera Therapeutics in the 2nd quarter worth $64,308,000. Finally, Atlas Venture Life Science Advisors LLC bought a new position in shares of Kailera Therapeutics in the 2nd quarter worth $113,923,000.

About Kailera Therapeutics

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.