Kailera Therapeutics, Inc. (NASDAQ:KLRA) Short Interest Up 96.0% in June

Kailera Therapeutics, Inc. (NASDAQ:KLRA) saw a significant increase in short interest in June. As of June 30th, there was short interest totaling 5,097,048 shares, an increase of 96.0% from the June 15th total of 2,599,881 shares. Based on an average daily volume of 1,667,724 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.9% of the company’s stock are short sold.

Kailera Therapeutics Trading Up 1.3%

KLRA stock traded up $0.23 on Friday, hitting $18.55. The company’s stock had a trading volume of 342,880 shares, compared to its average volume of 796,282. The stock has a market capitalization of $2.40 billion and a PE ratio of -0.01. The firm’s 50 day simple moving average is $20.87. Kailera Therapeutics has a 1 year low of $17.61 and a 1 year high of $28.23.

Kailera Therapeutics (NASDAQ:KLRA) last issued its quarterly earnings data on Tuesday, May 26th. The company reported ($3,650.00) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

KLRA has been the subject of a number of research reports. Zacks Research raised shares of Kailera Therapeutics to a “hold” rating in a research report on Wednesday, May 13th. Jefferies Financial Group started coverage on Kailera Therapeutics in a research report on Tuesday, May 12th. They set a “buy” rating and a $48.00 target price on the stock. Leerink Partners began coverage on Kailera Therapeutics in a research report on Tuesday, May 12th. They issued an “outperform” rating and a $36.00 target price for the company. Evercore initiated coverage on Kailera Therapeutics in a research note on Tuesday, May 12th. They set an “outperform” rating on the stock. Finally, Wall Street Zen downgraded Kailera Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $42.75.

Insiders Place Their Bets

In related news, major shareholder Rtw Investments, Lp bought 500,000 shares of the stock in a transaction dated Monday, April 20th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $8,000,000.00. Following the acquisition, the insider owned 10,776,820 shares in the company, valued at approximately $172,429,120. This represents a 4.87% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Kaplan bought 8,398,438 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $134,375,008.00. Following the completion of the transaction, the director directly owned 26,255,581 shares in the company, valued at approximately $420,089,296. The trade was a 47.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 10,460,938 shares of company stock valued at $167,375,008.

About Kailera Therapeutics

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.