Kailera Therapeutics (NASDAQ:KLRA) Stock Price Down 11% – Here’s Why

Kailera Therapeutics, Inc. (NASDAQ:KLRA) shares were down 11% during trading on Tuesday . The company traded as low as $19.90 and last traded at $20.74. Approximately 392,649 shares were traded during mid-day trading, a decline of 52% from the average session volume of 815,587 shares. The stock had previously closed at $23.30.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KLRA. Evercore initiated coverage on Kailera Therapeutics in a research report on Tuesday, May 12th. They set an “outperform” rating on the stock. Zacks Research upgraded shares of Kailera Therapeutics to a “hold” rating in a research note on Wednesday, May 13th. Jefferies Financial Group assumed coverage on shares of Kailera Therapeutics in a report on Tuesday, May 12th. They set a “buy” rating and a $48.00 price target on the stock. TD Cowen began coverage on shares of Kailera Therapeutics in a research report on Tuesday, May 12th. They issued a “buy” rating and a $57.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Kailera Therapeutics in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $30.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $42.75.

Kailera Therapeutics Stock Performance

The company has a 50 day moving average price of $21.50. The firm has a market capitalization of $2.86 billion and a PE ratio of -0.01.

Kailera Therapeutics (NASDAQ:KLRA) last issued its earnings results on Tuesday, May 26th. The company reported ($3,650.00) earnings per share (EPS) for the quarter.

Insider Activity

In related news, Director Andrew T. Kaplan acquired 8,398,438 shares of Kailera Therapeutics stock in a transaction dated Monday, April 20th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $134,375,008.00. Following the completion of the transaction, the director directly owned 26,255,581 shares in the company, valued at approximately $420,089,296. This represents a 47.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Rtw Investments, Lp bought 500,000 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were bought at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the transaction, the insider owned 10,776,820 shares of the company’s stock, valued at $172,429,120. The trade was a 4.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 10,460,938 shares of company stock worth $167,375,008 over the last quarter.

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.