Kailera Therapeutics (NASDAQ:KLRA) Stock Price Down 7% – Should You Sell?

Kailera Therapeutics, Inc. (NASDAQ:KLRA) shares were down 7% on Wednesday . The stock traded as low as $15.27 and last traded at $15.28. Approximately 222,361 shares traded hands during trading, a decline of 69% from the average daily volume of 726,007 shares. The stock had previously closed at $16.43.

Wall Street Analyst Weigh In

KLRA has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Kailera Therapeutics in a research report on Tuesday, May 12th. They set a “buy” rating and a $57.00 price objective for the company. Weiss Ratings began coverage on Kailera Therapeutics in a report on Friday, August 14th. They issued a “sell (d)” rating for the company. Leerink Partners initiated coverage on Kailera Therapeutics in a report on Tuesday, May 12th. They set an “outperform” rating and a $36.00 price target on the stock. Zacks Research raised shares of Kailera Therapeutics to a “hold” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Kailera Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.75.

Kailera Therapeutics Price Performance

The firm has a 50-day moving average of $18.32. The company has a market capitalization of $1.97 billion and a price-to-earnings ratio of -0.00.

Kailera Therapeutics (NASDAQ:KLRA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.35). Analysts forecast that Kailera Therapeutics, Inc. will post -3.89 earnings per share for the current year.

Institutional Investors Weigh In On Kailera Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Atlas Venture Life Science Advisors LLC purchased a new stake in Kailera Therapeutics during the second quarter valued at approximately $113,923,000. Wellington Management Group LLP acquired a new stake in Kailera Therapeutics during the 2nd quarter worth about $64,308,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Kailera Therapeutics during the second quarter worth about $24,233,000. Squarepoint Ops LLC acquired a new stake in shares of Kailera Therapeutics in the second quarter worth $993,000. Finally, Tidal Investments LLC acquired a new stake in Kailera Therapeutics during the second quarter worth about $309,000.

Kailera Therapeutics Company Profile

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.