Insider Buying: Kalaris Therapeutics (NASDAQ:KLRS) Director Purchases 244,300 Shares of Stock

Kalaris Therapeutics Inc. (NASDAQ:KLRS) Director Srinivas Akkaraju bought 244,300 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $4.83 per share, for a total transaction of $1,179,969.00. Following the transaction, the director directly owned 2,224,147 shares in the company, valued at approximately $10,742,630.01. This represents a 12.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Kalaris Therapeutics Price Performance

Shares of NASDAQ KLRS traded down $0.20 during midday trading on Friday, hitting $4.92. 87,157 shares of the company’s stock were exchanged, compared to its average volume of 92,250. Kalaris Therapeutics Inc. has a twelve month low of $2.14 and a twelve month high of $11.88. The firm’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $7.50.

Kalaris Therapeutics (NASDAQ:KLRS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.06. As a group, equities research analysts forecast that Kalaris Therapeutics Inc. will post -2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. WHI TRUST Co LLC purchased a new position in shares of Kalaris Therapeutics in the 4th quarter valued at approximately $823,000. State Street Corp boosted its stake in shares of Kalaris Therapeutics by 12.4% in the fourth quarter. State Street Corp now owns 25,410 shares of the company’s stock valued at $214,000 after buying an additional 2,800 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter valued at approximately $279,000. Goldman Sachs Group Inc. boosted its stake in shares of Kalaris Therapeutics by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 34,303 shares of the company’s stock valued at $290,000 after buying an additional 11,838 shares in the last quarter. Finally, RTW Investments LP purchased a new stake in shares of Kalaris Therapeutics in the fourth quarter valued at approximately $10,972,000. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KLRS has been the topic of several research analyst reports. Wedbush initiated coverage on Kalaris Therapeutics in a research report on Thursday, May 14th. They set an “outperform” rating and a $17.00 price target on the stock. Citizens Jmp cut their price target on Kalaris Therapeutics from $26.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen raised Kalaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Morgan Stanley initiated coverage on Kalaris Therapeutics in a research report on Thursday, April 16th. They set an “overweight” rating and a $14.00 price target on the stock. Finally, Citigroup reaffirmed an “outperform” rating on shares of Kalaris Therapeutics in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.60.

About Kalaris Therapeutics

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.