Srinivas Akkaraju Purchases 479,847 Shares of Kalaris Therapeutics (NASDAQ:KLRS) Stock

Kalaris Therapeutics Inc. (NASDAQ:KLRS) Director Srinivas Akkaraju purchased 479,847 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average cost of $10.42 per share, with a total value of $5,000,005.74. Following the completion of the purchase, the director directly owned 1,979,847 shares in the company, valued at approximately $20,630,005.74. This represents a 31.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Kalaris Therapeutics Stock Up 23.8%

Shares of KLRS stock opened at $10.24 on Thursday. Kalaris Therapeutics Inc. has a 12 month low of $2.14 and a 12 month high of $12.90. The company’s fifty day simple moving average is $9.15 and its 200-day simple moving average is $6.30. The firm has a market cap of $191.49 million, a PE ratio of -2.72 and a beta of -0.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in Kalaris Therapeutics in the 4th quarter valued at $92,000. Ikarian Capital LLC acquired a new position in shares of Kalaris Therapeutics in the fourth quarter valued at $3,038,000. RTW Investments LP bought a new position in shares of Kalaris Therapeutics in the fourth quarter valued at about $10,972,000. Boothbay Fund Management LLC acquired a new stake in shares of Kalaris Therapeutics during the 4th quarter worth about $779,000. Finally, 683 Capital Management LLC bought a new stake in shares of Kalaris Therapeutics during the 4th quarter worth about $680,000. 66.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KLRS shares. Wall Street Zen cut Kalaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Chardan Capital assumed coverage on Kalaris Therapeutics in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $19.00 price target for the company. Citizens Jmp started coverage on Kalaris Therapeutics in a research report on Monday, November 3rd. They set a “market outperform” rating and a $20.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Kalaris Therapeutics in a report on Monday, December 29th. Finally, Citigroup restated an “outperform” rating on shares of Kalaris Therapeutics in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.