Kalaris Therapeutics (NASDAQ:KLRS) Issues Quarterly Earnings Results

Kalaris Therapeutics (NASDAQ:KLRS) announced its quarterly earnings results 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 Stock Down 2.2%

NASDAQ:KLRS traded down $0.05 during mid-day trading on Tuesday, reaching $2.25. 24,248 shares of the stock were exchanged, compared to its average volume of 128,388. The stock has a market capitalization of $53.57 million, a P/E ratio of -1.11 and a beta of 0.47. Kalaris Therapeutics has a 1 year low of $1.78 and a 1 year high of $11.88. The company has a 50 day simple moving average of $2.72 and a 200-day simple moving average of $5.23.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KLRS shares. Wall Street Zen downgraded shares of Kalaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings raised shares of Kalaris Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.75.

Institutional Investors Weigh In On Kalaris Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KLRS. Velan Capital Investment Management LP grew its position in Kalaris Therapeutics by 38.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 25,000 shares of the company’s stock worth $102,000 after purchasing an additional 7,000 shares during the last quarter. Sigma Planning Corp acquired a new position in Kalaris Therapeutics in the second quarter valued at $41,000. WealthTrust Asset Management LLC acquired a new position in Kalaris Therapeutics in the first quarter valued at $72,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kalaris Therapeutics in the second quarter valued at $122,000. Finally, Stonepine Capital Management LLC acquired a new position in Kalaris Therapeutics in the second quarter valued at $122,597. Hedge funds and other institutional investors own 66.05% of the company’s stock.

Kalaris Therapeutics Company Profile

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.

The company’s activities primarily center on research, clinical development, and the potential commercialization of ophthalmic medicines.