Kailera Therapeutics (NASDAQ:KLRA) Trading 8.6% Higher – Here’s Why

Kailera Therapeutics, Inc. (NASDAQ:KLRA) shares traded up 8.6% during mid-day trading on Tuesday . The stock traded as high as $18.19 and last traded at $17.96. 757,067 shares traded hands during trading, an increase of 5% from the average daily volume of 717,646 shares. The stock had previously closed at $16.54.

Wall Street Analyst Weigh In

KLRA has been the topic of several recent research reports. Wall Street Zen downgraded shares of Kailera Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. JPMorgan Chase & Co. started coverage on Kailera Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $30.00 price target for the company. Leerink Partners assumed coverage on shares of Kailera Therapeutics in a report on Tuesday, May 12th. They set an “outperform” rating and a $36.00 price objective for the company. Weiss Ratings initiated coverage on shares of Kailera Therapeutics in a report on Friday, August 14th. They issued a “sell (d)” rating for the company. Finally, TD Cowen started coverage on Kailera Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $57.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kailera Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $42.75.

Kailera Therapeutics Stock Performance

The company has a 50-day simple moving average of $19.22. The stock has a market capitalization of $2.31 billion and a price-to-earnings ratio of -0.00.

Kailera Therapeutics (NASDAQ:KLRA) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.35). As a group, sell-side analysts expect that Kailera Therapeutics, Inc. will post -3.89 EPS for the current year.

Hedge Funds Weigh In On Kailera Therapeutics

Several institutional 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 worth approximately $309,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Kailera Therapeutics during the 2nd quarter worth $24,233,000. Atlas Venture Life Science Advisors LLC purchased a new stake in shares of Kailera Therapeutics during the 2nd quarter worth $113,923,000. Finally, Wellington Management Group LLP bought a new stake in Kailera Therapeutics during the second quarter valued at about $64,308,000.

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.