Kalaris Therapeutics (NASDAQ:KLRS) Stock Price Down 3.6% – What’s Next?

Kalaris Therapeutics Inc. (NASDAQ:KLRS)’s stock price traded down 3.6% on Thursday . The company traded as low as $6.00 and last traded at $6.10. 32,917 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 87,455 shares. The stock had previously closed at $6.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Kalaris Therapeutics in a report on Monday, December 29th. Morgan Stanley assumed coverage on shares of Kalaris Therapeutics in a report on Thursday, April 16th. They issued an “overweight” rating and a $14.00 price target on the stock. Finally, Wall Street Zen raised shares of Kalaris Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.00.

Kalaris Therapeutics Stock Performance

The stock has a 50 day moving average of $7.80 and a 200-day moving average of $7.49. The firm has a market capitalization of $139.87 million, a P/E ratio of -1.45 and a beta of 0.18.

Kalaris Therapeutics (NASDAQ:KLRS) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.12. As a group, sell-side analysts expect that Kalaris Therapeutics Inc. will post -2.18 EPS for the current year.

Institutional Investors Weigh In On Kalaris Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLRS. RTW Investments LP bought a new stake in Kalaris Therapeutics in the 4th quarter valued at about $10,972,000. Paradigm Biocapital Advisors LP bought a new stake in Kalaris Therapeutics in the 4th quarter valued at about $5,908,000. Alyeska Investment Group L.P. bought a new stake in Kalaris Therapeutics in the 4th quarter valued at about $3,402,000. Ikarian Capital LLC bought a new stake in Kalaris Therapeutics in the 4th quarter valued at about $3,038,000. Finally, Woodline Partners LP bought a new stake in Kalaris Therapeutics in the 3rd quarter valued at about $1,394,000. 66.05% of the stock is currently owned by 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.