Kailera Therapeutics (NASDAQ:KLRA) Stock Jumps 7.6% – Time to Buy?

Kailera Therapeutics, Inc. (NASDAQ:KLRA)’s share price was up 7.6% on Friday. The stock traded as high as $10.76 and last traded at $10.76. Approximately 293,082 shares traded hands during trading, a decline of 65% from the average daily volume of 844,615 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Kailera Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Kailera Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $42.75.

Kailera Therapeutics Stock Performance

The company has a market capitalization of $1.47 billion and a price-to-earnings ratio of -0.00. The business has a 50-day moving average of $15.14.

Kailera Therapeutics (NASDAQ:KLRA) last posted its earnings results on Wednesday, August 12th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.35). On average, sell-side analysts anticipate that Kailera Therapeutics, Inc. will post -3.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kailera Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC purchased a new position in Kailera Therapeutics during the 2nd quarter valued at about $309,000. Squarepoint Ops LLC purchased a new position in shares of Kailera Therapeutics in the second quarter worth approximately $993,000. State Street Corp bought a new stake in Kailera Therapeutics during the second quarter valued at about $19,126,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Kailera Therapeutics during the 2nd quarter valued at about $24,233,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Kailera Therapeutics in the second quarter valued at $64,308,000.

About Kailera Therapeutics

Kailera Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for obesity and other chronic metabolic diseases. The company’s research is centered on therapies designed to address weight management and related health conditions.

Kailera’s pipeline includes ecnoglutide, an investigational, long-acting glucagon-like peptide-1 (GLP-1) receptor agonist being evaluated for potential use in obesity and metabolic disorders. The company continues to advance clinical development and assess additional opportunities in the metabolic disease sector.

Kailera Therapeutics is focused primarily on research and development activities, with its programs intended for potential commercialization in international markets subject to clinical, regulatory and other approvals.