Kalaris Therapeutics (NASDAQ:KLRS) Posts Earnings Results, Beats Expectations By $0.02 EPS

Kalaris Therapeutics (NASDAQ:KLRS) issued its earnings results on Tuesday. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.02, Zacks reports.

Kalaris Therapeutics Trading Up 1.8%

Shares of Kalaris Therapeutics stock traded up $0.07 during mid-day trading on Thursday, reaching $4.01. 17,272 shares of the stock were exchanged, compared to its average volume of 151,385. Kalaris Therapeutics has a fifty-two week low of $2.14 and a fifty-two week high of $11.88. The company has a market cap of $95.37 million, a price-to-earnings ratio of -1.98 and a beta of 0.20. The firm has a 50-day simple moving average of $4.25 and a 200 day simple moving average of $6.19.

Insider Buying and Selling

In other news, Director Srinivas Akkaraju acquired 244,300 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $4.83 per share, with a total value of $1,179,969.00. Following the completion of the purchase, the director owned 2,224,147 shares of the company’s stock, valued at $10,742,630.01. This represents a 12.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 68.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kalaris Therapeutics

Several institutional investors have recently bought and sold shares of KLRS. RTW Investments LP bought a new position in shares of Kalaris Therapeutics in the fourth quarter valued at about $10,972,000. Paradigm Biocapital Advisors LP acquired a new position in Kalaris Therapeutics in the fourth quarter valued at approximately $5,908,000. Alyeska Investment Group L.P. bought a new position in shares of Kalaris Therapeutics in the 4th quarter worth $3,402,000. Ikarian Capital LLC acquired a new position in shares of Kalaris Therapeutics during the 4th quarter worth about $3,038,000. Finally, Woodline Partners LP bought a new position in Kalaris Therapeutics during the 3rd quarter worth approximately $1,394,000. Institutional investors own 66.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Cowen began coverage on shares of Kalaris Therapeutics in a research report on Monday, June 15th. They set a “buy” rating on the stock. Citizens Jmp lowered their target price on shares of Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings downgraded Kalaris Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Wall Street Zen downgraded Kalaris Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. Finally, Wedbush initiated coverage on Kalaris Therapeutics in a research report on Thursday, May 14th. They issued an “outperform” rating and a $17.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kalaris Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Kalaris Therapeutics Company Profile

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.