Chardan Capital Initiates Coverage on Kalaris Therapeutics (NASDAQ:KLRS)

Chardan Capital started coverage on shares of Kalaris Therapeutics (NASDAQ:KLRS) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $19.00 price target on the stock. Chardan Capital’s price target points to a potential upside of 98.33% from the company’s previous close.

KLRS has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Kalaris Therapeutics in a report on Monday. Wall Street Zen upgraded Kalaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Raymond James Financial assumed coverage on Kalaris Therapeutics in a report on Tuesday, September 2nd. They issued a “strong-buy” rating on the stock. Citizens Jmp started coverage on Kalaris Therapeutics in a research note on Monday, November 3rd. They issued a “market outperform” rating and a $20.00 price target for the company. Finally, Citigroup reiterated an “outperform” rating on shares of Kalaris Therapeutics in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Kalaris Therapeutics Price Performance

Shares of NASDAQ:KLRS opened at $9.58 on Tuesday. The company has a market capitalization of $179.15 million, a P/E ratio of -2.54 and a beta of -0.04. Kalaris Therapeutics has a 1-year low of $2.14 and a 1-year high of $12.90. The firm’s 50 day simple moving average is $6.29 and its two-hundred day simple moving average is $4.48.

Kalaris Therapeutics (NASDAQ:KLRS) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Woodline Partners LP bought a new stake in Kalaris Therapeutics in the third quarter worth $1,394,000. Belpointe Asset Management LLC purchased a new position in shares of Kalaris Therapeutics in the 3rd quarter worth $231,000. Fortis Capital Advisors LLC bought a new stake in shares of Kalaris Therapeutics in the 3rd quarter worth about $231,000. XTX Topco Ltd bought a new stake in shares of Kalaris Therapeutics in the 2nd quarter worth about $65,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Kalaris Therapeutics during the 3rd quarter valued at about $130,000. 66.05% of the stock is 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.