Srinivas Akkaraju Acquires 244,300 Shares of Kalaris Therapeutics (NASDAQ:KLRS) Stock

Kalaris Therapeutics Inc. (NASDAQ:KLRS) Director Srinivas Akkaraju acquired 244,300 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $4.83 per share, with a total value of $1,179,969.00. Following the acquisition, the director owned 2,224,147 shares in the company, valued at approximately $10,742,630.01. The trade was a 12.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Kalaris Therapeutics Trading Down 3.9%

Shares of KLRS opened at $4.92 on Friday. Kalaris Therapeutics Inc. has a 12 month low of $2.14 and a 12 month high of $11.88. The stock has a fifty day moving average price of $6.01 and a 200-day moving average price of $7.50. The firm has a market cap of $117.06 million, a PE ratio of -2.29 and a beta of 0.15.

Kalaris Therapeutics (NASDAQ:KLRS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.06. As a group, research analysts forecast that Kalaris Therapeutics Inc. will post -2.09 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley assumed coverage on Kalaris Therapeutics in a report on Thursday, April 16th. They set an “overweight” rating and a $14.00 price objective for the company. Wall Street Zen lowered Kalaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup reiterated an “outperform” rating on shares of Kalaris Therapeutics in a report on Wednesday, May 13th. Wedbush initiated coverage on Kalaris Therapeutics in a report on Thursday, May 14th. They set an “outperform” rating and a $17.00 price objective for the company. Finally, Citizens Jmp reduced their target price on Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.60.

Hedge Funds Weigh In On Kalaris Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLRS. XTX Topco Ltd purchased a new position in Kalaris Therapeutics in the 2nd quarter worth $65,000. Fortis Capital Advisors LLC purchased a new position in Kalaris Therapeutics in the 3rd quarter worth $231,000. Belpointe Asset Management LLC acquired a new stake in Kalaris Therapeutics during the 3rd quarter worth about $231,000. Johnson Financial Group Inc. acquired a new stake in Kalaris Therapeutics during the 3rd quarter worth about $58,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Kalaris Therapeutics during the 3rd quarter worth about $130,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.