Kalaris Therapeutics (NASDAQ:KLRS) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Kalaris Therapeutics (NASDAQ:KLRS) issued its earnings results on Tuesday. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.02, Zacks reports.

Kalaris Therapeutics Stock Performance

Shares of Kalaris Therapeutics stock opened at $3.94 on Tuesday. The stock has a market cap of $93.73 million, a price-to-earnings ratio of -1.83 and a beta of 0.20. The stock has a 50 day moving average price of $4.28 and a 200-day moving average price of $6.27. Kalaris Therapeutics has a one year low of $2.14 and a one year high of $11.88.

Insider Buying and Selling at Kalaris Therapeutics

In related news, Director Srinivas Akkaraju purchased 244,300 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $4.83 per share, for a total transaction of $1,179,969.00. Following the completion of the transaction, the director directly owned 2,224,147 shares in the company, valued at $10,742,630.01. This represents a 12.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 68.10% of the company’s stock.

Hedge Funds Weigh In On Kalaris Therapeutics

A number of large investors have recently made changes to their positions in KLRS. RTW Investments LP bought a new position in Kalaris Therapeutics during the 4th quarter valued at about $10,972,000. Paradigm Biocapital Advisors LP bought a new stake in Kalaris Therapeutics in the fourth quarter worth about $5,908,000. Alyeska Investment Group L.P. purchased a new position in shares of Kalaris Therapeutics during the fourth quarter valued at approximately $3,402,000. Ikarian Capital LLC purchased a new position in shares of Kalaris Therapeutics during the fourth quarter valued at approximately $3,038,000. Finally, Woodline Partners LP bought a new position in shares of Kalaris Therapeutics during the third quarter valued at approximately $1,394,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KLRS has been the topic of a number of research reports. Wall Street Zen downgraded shares of Kalaris Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. Morgan Stanley assumed coverage on Kalaris Therapeutics in a research report on Thursday, April 16th. They set an “overweight” rating and a $14.00 target price for the company. TD Cowen initiated coverage on shares of Kalaris Therapeutics in a report on Monday, June 15th. They issued a “buy” rating for the company. Wedbush initiated coverage on shares of Kalaris Therapeutics in a research report on Thursday, May 14th. They issued an “outperform” rating and a $17.00 price target on the stock. Finally, Weiss Ratings cut shares of Kalaris Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kalaris Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $18.75.

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.