Kalaris Therapeutics (NASDAQ:KLRS) Shares Up 15.4% – Should You Buy?

Kalaris Therapeutics Inc. (NASDAQ:KLRS)’s stock price traded up 15.4% during mid-day trading on Monday . The stock traded as high as $4.09 and last traded at $4.05. 155,903 shares traded hands during trading, a decline of 76% from the average daily volume of 653,556 shares. The stock had previously closed at $3.51.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KLRS shares. Weiss Ratings cut shares of Kalaris Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Citigroup restated an “outperform” rating on shares of Kalaris Therapeutics in a report on Wednesday, May 13th. Wall Street Zen cut shares of Kalaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Citizens Jmp reduced their price target on shares of Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 13th. Finally, TD Cowen assumed coverage on shares of Kalaris Therapeutics in a research report on Monday, June 15th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.75.

Kalaris Therapeutics Stock Down 3.0%

The company has a market capitalization of $99.68 million, a price-to-earnings ratio of -1.95 and a beta of 0.20. The stock has a fifty day moving average price of $4.37 and a two-hundred day moving average price of $6.43.

Kalaris Therapeutics (NASDAQ:KLRS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.06. As a group, research analysts forecast that Kalaris Therapeutics Inc. will post -2 earnings per share for the current fiscal year.

Insider Transactions at Kalaris Therapeutics

In other news, Director Srinivas Akkaraju bought 244,300 shares of Kalaris Therapeutics stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $4.83 per share, for a total transaction 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. This trade represents a 12.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 68.10% of the company’s stock.

Institutional Investors Weigh In On Kalaris Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Kalaris Therapeutics during the fourth quarter valued at approximately $34,000. Barclays PLC purchased a new stake in Kalaris Therapeutics in the 4th quarter worth approximately $51,000. Johnson Financial Group Inc. purchased a new stake in Kalaris Therapeutics in the 3rd quarter worth approximately $58,000. XTX Topco Ltd purchased a new stake in Kalaris Therapeutics in the 2nd quarter worth approximately $65,000. Finally, WealthTrust Asset Management LLC acquired a new position in Kalaris Therapeutics in the 1st quarter valued at $72,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

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.