Kalaris Therapeutics (NASDAQ:KLRS) Director Srinivas Akkaraju Acquires 244,300 Shares of Stock

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

Kalaris Therapeutics Stock Down 3.9%

Shares of NASDAQ:KLRS opened at $4.92 on Friday. The business has a fifty day simple moving average of $6.01 and a 200-day simple moving average of $7.50. Kalaris Therapeutics Inc. has a 52 week low of $2.14 and a 52 week high of $11.88. The company has a market cap of $117.05 million, a P/E ratio of -2.29 and a beta of 0.15.

Kalaris Therapeutics (NASDAQ:KLRS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.06. Sell-side analysts expect that Kalaris Therapeutics Inc. will post -2.09 earnings per share for the current fiscal year.

Institutional Trading of Kalaris Therapeutics

A number of institutional investors have recently bought and sold shares of KLRS. XTX Topco Ltd acquired a new stake in Kalaris Therapeutics during the second quarter valued at $65,000. Fortis Capital Advisors LLC bought a new position in shares of Kalaris Therapeutics in the third quarter worth about $231,000. Belpointe Asset Management LLC bought a new position in shares of Kalaris Therapeutics in the third quarter worth about $231,000. Johnson Financial Group Inc. bought a new position in shares of Kalaris Therapeutics in the third quarter worth about $58,000. Finally, Bridgeway Capital Management LLC bought a new position in Kalaris Therapeutics during the third quarter valued at about $130,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

Analyst Upgrades and Downgrades

KLRS has been the topic of several recent analyst reports. Wedbush initiated coverage on Kalaris Therapeutics in a research note on Thursday, May 14th. They issued an “outperform” rating and a $17.00 price target on the stock. Citizens Jmp reduced their price target on shares of 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. Citigroup reiterated an “outperform” rating on shares of Kalaris Therapeutics in a research report on Wednesday, May 13th. Morgan Stanley began coverage on Kalaris Therapeutics in a research report on Thursday, April 16th. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Wall Street Zen cut Kalaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Kalaris Therapeutics currently has an average rating of “Moderate Buy” and a consensus 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.