Brokerages Set Kalaris Therapeutics Inc. (NASDAQ:KLRS) PT at $15.60

Kalaris Therapeutics Inc. (NASDAQ:KLRS) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $15.60.

A number of brokerages have recently issued reports on KLRS. Morgan Stanley initiated coverage on Kalaris Therapeutics in a report on Thursday, April 16th. They set an “overweight” rating and a $14.00 price target on the stock. Weiss Ratings upgraded Kalaris Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 7th. Citizens Jmp decreased their target price on Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 13th. Wedbush started coverage on shares of Kalaris Therapeutics in a research note on Thursday, May 14th. They set an “outperform” rating and a $17.00 target price on the stock. Finally, Citigroup reaffirmed an “outperform” rating on shares of Kalaris Therapeutics in a report on Wednesday, May 13th.

Insider Buying and Selling

In related news, Director Srinivas Akkaraju bought 244,300 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $4.83 per share, for a total transaction of $1,179,969.00. Following the purchase, the director owned 2,224,147 shares in the company, valued at approximately $10,742,630.01. This represents a 12.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 68.10% of the company’s stock.

Hedge Funds Weigh In On Kalaris Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nano Cap New Millennium Growth Fund L P purchased a new stake in Kalaris Therapeutics during the fourth quarter valued at $34,000. Barclays PLC purchased a new position in Kalaris Therapeutics in the fourth quarter worth about $51,000. Johnson Financial Group Inc. purchased a new position in Kalaris Therapeutics in the third quarter worth about $58,000. XTX Topco Ltd bought a new stake in shares of Kalaris Therapeutics during the 2nd quarter valued at about $65,000. Finally, WealthTrust Asset Management LLC bought a new stake in shares of Kalaris Therapeutics during the 1st quarter valued at about $72,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Kalaris Therapeutics Stock Down 4.4%

Shares of KLRS opened at $4.61 on Friday. Kalaris Therapeutics has a twelve month low of $2.14 and a twelve month high of $11.88. The company has a market capitalization of $109.67 million, a P/E ratio of -2.14 and a beta of 0.19. The firm has a 50 day moving average of $4.65 and a 200 day moving average of $6.87.

Kalaris Therapeutics (NASDAQ:KLRS) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.06. On average, sell-side analysts expect that Kalaris Therapeutics will post -2 EPS for the current year.

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.