Kalaris Therapeutics (NASDAQ:KLRS) Trading Down 1.1% – Here’s Why

Kalaris Therapeutics Inc. (NASDAQ:KLRS) was down 1.1% during trading on Friday . The company traded as low as $4.33 and last traded at $4.44. Approximately 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 research analysts recently issued reports on the company. Citizens Jmp cut their price target on Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating for the company in a report on Wednesday, May 13th. TD Cowen began coverage on Kalaris Therapeutics in a research note on Monday, June 15th. They issued a “buy” rating for the company. Weiss Ratings upgraded Kalaris Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wedbush assumed coverage on Kalaris Therapeutics in a research note on Thursday, May 14th. They set an “outperform” rating and a $17.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Kalaris Therapeutics in a research note on Thursday, April 16th. They set an “overweight” rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.60.

Kalaris Therapeutics Stock Down 1.1%

The stock has a market cap of $105.63 million, a P/E ratio of -2.07 and a beta of 0.19. The stock has a fifty day simple moving average of $4.70 and a 200-day simple moving average of $7.03.

Kalaris Therapeutics (NASDAQ:KLRS) last announced its quarterly earnings results 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. Sell-side analysts anticipate that Kalaris Therapeutics Inc. will post -2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju bought 244,300 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $4.83 per share, for a total transaction of $1,179,969.00. Following the completion of the acquisition, the director owned 2,224,147 shares in the company, valued at approximately $10,742,630.01. This trade represents a 12.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 68.10% of the company’s stock.

Institutional Trading of Kalaris Therapeutics

Large investors have recently made changes to their positions in the company. WealthTrust Asset Management LLC bought a new position in Kalaris Therapeutics during the first quarter worth about $72,000. Simplify Asset Management Inc. raised its position in shares of Kalaris Therapeutics by 335.5% during the first quarter. Simplify Asset Management Inc. now owns 87,426 shares of the company’s stock worth $504,000 after purchasing an additional 67,352 shares during the period. XTX Topco Ltd acquired a new stake in shares of Kalaris Therapeutics during the fourth quarter worth about $92,000. Ikarian Capital LLC bought a new position in shares of Kalaris Therapeutics during the 4th quarter valued at about $3,038,000. Finally, RTW Investments LP bought a new position in shares of Kalaris Therapeutics during the 4th quarter valued at about $10,972,000. Institutional investors own 66.05% of the company’s stock.

About Kalaris Therapeutics

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.