Kalaris Therapeutics (NASDAQ:KLRS) Director Srinivas Akkaraju Buys 479,847 Shares of Stock

Kalaris Therapeutics Inc. (NASDAQ:KLRS) Director Srinivas Akkaraju purchased 479,847 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were acquired at an average price of $10.42 per share, with a total value of $5,000,005.74. Following the completion of the transaction, the director owned 1,979,847 shares of the company’s stock, valued at approximately $20,630,005.74. This trade represents a 31.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kalaris Therapeutics Trading Down 4.4%

KLRS opened at $8.27 on Wednesday. Kalaris Therapeutics Inc. has a 12 month low of $2.14 and a 12 month high of $12.90. The business’s 50-day moving average price is $9.10 and its 200-day moving average price is $6.27. The company has a market cap of $154.65 million, a P/E ratio of -2.19 and a beta of -0.09.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KLRS. Wall Street Zen lowered Kalaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Citigroup reissued an “outperform” rating on shares of Kalaris Therapeutics in a research report on Thursday, December 18th. Chardan Capital initiated coverage on shares of Kalaris Therapeutics in a report on Tuesday, December 23rd. They issued a “buy” rating and a $19.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kalaris Therapeutics in a research note on Monday, December 29th. Finally, Citizens Jmp initiated coverage on shares of Kalaris Therapeutics in a report on Monday, November 3rd. They set a “market outperform” rating and a $20.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Institutional Investors Weigh In On Kalaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Kalaris Therapeutics during the fourth quarter valued at about $34,000. Barclays PLC bought a new stake in Kalaris Therapeutics during the 4th quarter valued at approximately $51,000. Johnson Financial Group Inc. purchased a new position in shares of Kalaris Therapeutics during the 3rd quarter worth approximately $58,000. XTX Topco Ltd bought a new position in shares of Kalaris Therapeutics in the 2nd quarter worth approximately $65,000. Finally, Keel Point LLC bought a new position in shares of Kalaris Therapeutics in the 4th quarter worth approximately $86,000. 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.