Kalaris Therapeutics (NASDAQ:KLRS) Cut to “Sell” at Wall Street Zen

Kalaris Therapeutics (NASDAQ:KLRS) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Other analysts also recently issued research reports about the stock. Citizens Jmp decreased their price target on shares of 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. Morgan Stanley initiated coverage on shares of Kalaris Therapeutics in a research note on Thursday, April 16th. They set an “overweight” rating and a $14.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kalaris Therapeutics in a research note on Tuesday. Wedbush assumed coverage on shares of Kalaris Therapeutics in a research note on Thursday, May 14th. They set an “outperform” rating and a $17.00 price target for the company. Finally, Citigroup reissued an “outperform” rating on shares of Kalaris Therapeutics 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kalaris Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $15.60.

Kalaris Therapeutics Stock Performance

Kalaris Therapeutics stock opened at $4.33 on Friday. The company has a 50 day moving average price of $5.35 and a 200-day moving average price of $7.42. Kalaris Therapeutics has a fifty-two week low of $2.14 and a fifty-two week high of $11.88. The company has a market capitalization of $103.01 million, a PE ratio of -2.01 and a beta of 0.15.

Kalaris Therapeutics (NASDAQ:KLRS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.06. On average, analysts forecast that Kalaris Therapeutics will post -2.09 earnings per share for the current year.

Insider Transactions at Kalaris Therapeutics

In other news, Director Srinivas Akkaraju purchased 244,300 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $4.83 per share, with a total value of $1,179,969.00. Following the completion of the acquisition, the director owned 2,224,147 shares of the company’s stock, valued at $10,742,630.01. This trade represents a 12.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 68.10% of the company’s stock.

Hedge Funds Weigh In On Kalaris Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. RTW Investments LP purchased a new position in Kalaris Therapeutics in the fourth quarter worth $10,972,000. Paradigm Biocapital Advisors LP purchased a new position in Kalaris Therapeutics in the fourth quarter worth $5,908,000. Siren L.L.C. grew its holdings in Kalaris Therapeutics by 36.9% in the fourth quarter. Siren L.L.C. now owns 435,798 shares of the company’s stock worth $3,678,000 after purchasing an additional 117,534 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Kalaris Therapeutics in the fourth quarter worth $3,402,000. Finally, Ikarian Capital LLC purchased a new position in Kalaris Therapeutics in the fourth quarter worth $3,038,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

About Kalaris Therapeutics

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.