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

Kalaris Therapeutics (NASDAQ:KLRS) announced its earnings results on Tuesday. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.02, Zacks reports.

Kalaris Therapeutics Price Performance

Shares of NASDAQ KLRS traded up $0.02 during mid-day trading on Wednesday, hitting $3.99. The company had a trading volume of 12,738 shares, compared to its average volume of 151,954. Kalaris Therapeutics has a 1-year low of $2.14 and a 1-year high of $11.88. The company has a market capitalization of $94.93 million, a PE ratio of -1.86 and a beta of 0.20. The business’s 50-day simple moving average is $4.27 and its 200 day simple moving average is $6.23.

Insider Activity at Kalaris Therapeutics

In other news, Director Srinivas Akkaraju bought 244,300 shares of Kalaris Therapeutics stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $4.83 per share, with a total value of $1,179,969.00. Following the completion of the acquisition, the director directly owned 2,224,147 shares in the company, valued at $10,742,630.01. The trade was a 12.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 68.10% of the company’s stock.

Hedge Funds Weigh In On Kalaris Therapeutics

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

Analysts Set New Price Targets

KLRS has been the topic of a number of research reports. Morgan Stanley started coverage on shares of Kalaris Therapeutics in a research note on Thursday, April 16th. They issued an “overweight” rating and a $14.00 price target on the stock. Wall Street Zen lowered Kalaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Weiss Ratings downgraded Kalaris Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. 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. Finally, Citigroup restated an “outperform” rating on shares of Kalaris Therapeutics in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average 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.