Kalaris Therapeutics (NASDAQ:KLRS) Stock Price Down 8.7% – What’s Next?

Kalaris Therapeutics Inc. (NASDAQ:KLRS)’s stock price fell 8.7% during mid-day trading on Friday. The company traded as low as $2.00 and last traded at $2.00. Approximately 58,401 shares were traded during trading, a decline of 31% from the average session volume of 84,670 shares. The stock had previously closed at $2.19.

Wall Street Analysts Forecast Growth

KLRS has been the topic of several analyst reports. Weiss Ratings upgraded Kalaris Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Wall Street Zen cut Kalaris Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, September 13th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.75.

Kalaris Therapeutics Price Performance

The firm’s 50 day moving average is $3.35 and its 200 day moving average is $4.36. The company has a market capitalization of $47.62 million, a PE ratio of -0.99 and a beta of 0.42.

Kalaris Therapeutics (NASDAQ:KLRS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.02. As a group, analysts predict that Kalaris Therapeutics Inc. will post -1.99 EPS for the current fiscal year.

Institutional Trading of Kalaris Therapeutics

A number of institutional investors have recently modified their holdings of KLRS. Velan Capital Investment Management LP grew its stake in shares of Kalaris Therapeutics by 38.9% in the second quarter. Velan Capital Investment Management LP now owns 25,000 shares of the company’s stock worth $102,000 after purchasing an additional 7,000 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Kalaris Therapeutics during the second quarter valued at approximately $41,000. WealthTrust Asset Management LLC purchased a new position in shares of Kalaris Therapeutics during the first quarter valued at approximately $72,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kalaris Therapeutics during the second quarter valued at approximately $122,000. Finally, Stonepine Capital Management LLC bought a new position in shares of Kalaris Therapeutics during the second quarter valued at approximately $122,597. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Kalaris Therapeutics Company Profile

Kalaris Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for retinal vascular diseases. The company’s work is aimed at addressing conditions in which abnormal blood-vessel growth or leakage can impair vision.

Kalaris Therapeutics’ lead investigational product is KAL-001, an ophthalmic biologic being developed for retinal diseases, including conditions such as diabetic macular edema and neovascular age-related macular degeneration. The company’s pipeline remains under clinical development, and its products have not been established as safe or effective for commercial use.

The company is headquartered in the United States and is focused primarily on advancing its retinal-disease research and clinical programs.