Kalaris Therapeutics (NASDAQ:KLRS) Issues Quarterly Earnings Results

Kalaris Therapeutics (NASDAQ:KLRS) announced its quarterly earnings data on Tuesday. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.06, FiscalAI reports.

Kalaris Therapeutics Price Performance

KLRS stock traded down $0.03 during mid-day trading on Wednesday, reaching $1.84. 1,505 shares of the company’s stock were exchanged, compared to its average volume of 128,065. The company has a market cap of $43.93 million, a price-to-earnings ratio of -0.91 and a beta of 0.47. The stock’s 50 day moving average is $2.67 and its 200 day moving average is $5.19. Kalaris Therapeutics has a 12-month low of $1.78 and a 12-month high of $11.88.

Analyst Upgrades and Downgrades

KLRS has been the topic of several research analyst reports. Wall Street Zen cut Kalaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings upgraded shares of Kalaris Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kalaris Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $18.75.

Hedge Funds Weigh In On Kalaris Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Velan Capital Investment Management LP grew its holdings in shares of Kalaris Therapeutics by 38.9% during the second quarter. Velan Capital Investment Management LP now owns 25,000 shares of the company’s stock worth $102,000 after buying an additional 7,000 shares in the last quarter. Sigma Planning Corp acquired a new position in Kalaris Therapeutics during the second quarter worth $41,000. WealthTrust Asset Management LLC purchased a new position in Kalaris Therapeutics during the 1st quarter valued at about $72,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kalaris Therapeutics in the second quarter valued at approximately $122,000. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Kalaris Therapeutics during the second quarter worth $122,597. Hedge funds and other institutional investors own 66.05% of the company’s stock.

About Kalaris Therapeutics

Kalaris Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for retinal vascular diseases, a group of eye conditions that can lead to vision loss. The company’s research is aimed at addressing diseases in which abnormal blood-vessel growth or leakage damages the retina. Kalaris Therapeutics’ lead investigational product candidate is KAL-101, an experimental therapy being developed for retinal diseases. The company is advancing KAL-101 through clinical development and evaluating its potential to provide a treatment option for patients with conditions requiring ongoing management of retinal vascular abnormalities.