Kailera Therapeutics (NASDAQ:KLRA) Trading Down 7% – Here’s What Happened

Shares of Kailera Therapeutics, Inc. (NASDAQ:KLRA) dropped 7% during mid-day trading on Wednesday . The company traded as low as $15.27 and last traded at $15.28. 222,361 shares changed hands during trading, a decline of 69% from the average daily volume of 726,007 shares. The stock had previously closed at $16.43.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KLRA. Weiss Ratings began coverage on Kailera Therapeutics in a report on Friday, August 14th. They issued a “sell (d)” rating for the company. Wall Street Zen cut Kailera Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.75.

Kailera Therapeutics Stock Up 0.5%

The company has a market cap of $1.93 billion and a price-to-earnings ratio of -0.00. The firm’s fifty day simple moving average is $18.05.

Kailera Therapeutics (NASDAQ:KLRA) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.35). On average, sell-side analysts predict that Kailera Therapeutics, Inc. will post -3.89 earnings per share for the current fiscal year.

Institutional Trading of Kailera Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Atlas Venture Life Science Advisors LLC bought a new position in shares of Kailera Therapeutics during the 2nd quarter valued at $113,923,000. Wellington Management Group LLP acquired a new position in Kailera Therapeutics during the second quarter worth $64,308,000. Frazier Life Sciences Management L.P. bought a new position in Kailera Therapeutics during the second quarter valued at about $24,233,000. Squarepoint Ops LLC acquired a new stake in shares of Kailera Therapeutics in the second quarter worth about $993,000. Finally, Tidal Investments LLC bought a new stake in shares of Kailera Therapeutics during the 2nd quarter worth about $309,000.

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.