Kailera Therapeutics (NASDAQ:KLRA) Stock Price Up 8.6% – Here’s Why

Kailera Therapeutics, Inc. (NASDAQ:KLRA) rose 8.6% during trading on Tuesday . The company traded as high as $18.19 and last traded at $17.96. Approximately 757,067 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 717,646 shares. The stock had previously closed at $16.54.

Wall Street Analyst Weigh In

KLRA has been the topic of a number of research reports. Leerink Partners began coverage on shares of Kailera Therapeutics in a report on Tuesday, May 12th. They issued an “outperform” rating and a $36.00 price target on the stock. William Blair initiated coverage on shares of Kailera Therapeutics in a report on Tuesday, May 12th. They set an “outperform” rating for the company. Zacks Research raised Kailera Therapeutics to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Kailera Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Finally, TD Cowen started coverage on Kailera Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $57.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.75.

Kailera Therapeutics Stock Performance

The company has a market cap of $2.36 billion and a P/E ratio of -0.00. The stock’s fifty day simple moving average is $19.19.

Kailera Therapeutics (NASDAQ:KLRA) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.35). As a group, equities research analysts forecast that Kailera Therapeutics, Inc. will post -3.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System bought a new position in shares of Kailera Therapeutics during the second quarter valued at approximately $309,000. Frazier Life Sciences Management L.P. bought a new stake in shares of Kailera Therapeutics during the 2nd quarter worth approximately $24,233,000. Wellington Management Group LLP purchased a new position in Kailera Therapeutics during the 2nd quarter valued at $64,308,000. Finally, Atlas Venture Life Science Advisors LLC bought a new position in Kailera Therapeutics in the 2nd quarter valued at $113,923,000.

About Kailera Therapeutics

We are an advanced clinical-stage biotechnology company focused on elevating the next era of obesity care by advancing a diversified pipeline to provide options for people living with obesity no matter where they are in their treatment journey. Obesity is a chronic, progressive and debilitating disease that impacts over 1 billion people globally and requires long-term comprehensive treatment. Since obesity is the driving factor for more than 200 comorbidities and represents a significant contributor to increased morbidity and mortality, our vision is to deliver category-leading obesity management medications that give people the power to restore their health and transform their lives.